California Investments

CalPERS is one of the largest investors in California - providing jobs, services, and a financial boost to the State's economy.

We recognize the significant investment opportunities that are present in California and have allocated some of our portfolio for direct California investments. Typically measured in dollars, these investments not only benefit our members, but also State and local economies.

Our private equity investments through limited partnerships, for example, are headquartered in the State or chartered to invest in California. These programs are designed to provide superior risk-adjusted returns for the System and invigorate support for the State's economy.

As of December 31, 2014, approximately 9.1 percent of CalPERS total assets are invested in California. The following breakdown illustrates our investments in California.

Asset Class Market Value
Public Equity $13.9 billion
Private Equity1 $3.8 billion
Income $3.0 billion
Real Estate2 $6.2 billion
Infrastructure2 $0.1 billion
Other3 $0.0 billion
Total California Investments $27.0 billion

1 Due to reporting constraints, Private Equity is as of June 30, 2014.
2 Due to reporting constraints, Real Estate is as of September 30, 2014 and Infrastructure is as of August 31, 2014.
3 "Other" consists primarily of Forestland, Inflation, Absolute Return Strategies, and Liquidity.

Dated: 02-20-2015