August 19, 2013
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Joe DeAnda, Information Officer
CalPERS Releases Annual Report Highlighting California Investments and Their Benefits
System invested $20.7 billion in State for Fiscal Year 2011-12
SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today released its annual CalPERS for California 2012 report, detailing the broad ancillary benefits the System’s investments generated in California for the 2011-12 Fiscal Year. Additionally, CalPERS released an updated version of the California Initiative report, a program which looked to invest in companies located in traditionally underserved California markets.
Ancillary benefits of CalPERS investments described in these reports include the support and creation of jobs, infrastructure for communities and commerce, and business expansion and related economic activity.
“CalPERS has a duty to invest in the best interest of our members,” said Henry Jones, CalPERS Investment Committee Chair. “Being able to invest a significant amount of capital in California is a reflection of the strength and diversity of our State.”
Key findings in the CalPERS for California 2012 report include:
- Investments for the 2011-12 Fiscal Year totaled $20.7 billion, or 8.9 percent of the Total Fund, representing an increase of 6.7 percent from the 2010-11 Fiscal Year.
- Nearly 1.5 million jobs have been supported or created as a result of CalPERS investments in California.
- CalPERS dollars were invested across asset classes, including public equity, fixed income, private equity, real estate and infrastructure.
CalPERS has approximately $23 billion invested in California, to date.
“We are committed to California and will continue to pursue California-based investment opportunities as we seek the best risk-adjusted returns,” said Ted Eliopoulos, CalPERS Acting Chief Investment Officer.
Since the inception of the California Initiative in 2001, which used exclusively private equity funds, CalPERS has invested a total of approximately $1 billion in 490 companies located primarily in California. These companies have provided California communities with quality jobs and benefit levels for health and retirement that outpace statewide and national levels.
The California Initiative has invested in areas of the state that have historically not received institutional equity capital, with 47 percent of capital allocated to companies located in underserved markets. Overall, California Initiative companies have experienced 23 percent employment growth since the time of investment.
CalPERS is the largest public pension fund in the U.S., with more than $265 billion in assets. We administer health and retirement benefits on behalf of 3,064 public school, local agency and State employers. Our members number more than 1.6 million in our retirement system and more than 1.3 million in our health plans.
CalPERS for California 2012 Report (PDF, 3.12 MB)