CalPERS is one of the largest institutional investors in both the U.S. and international stock markets. A large portion of our money invested in stocks is "passively managed." That means that we don't actively try to time the market. We are long-term investors - we buy and hold. Our belief is that the market is relatively efficient and that it is difficult to add value with active management. We do maintain some active equity management in areas where there appears to be the potential for managers to add value.  Active strategies are managed both externally and internally.

The CalPERS Board has also established a hedge fund program and has created an innovative External Manager Development Program that focuses on the development of new and emerging money managers.

Refer to our Asset Allocation information to find out the latest amount of money CalPERS has currently invested in equities.

Private Equity Program

Our Private Equity Program specializes in private equity investments.

U.S. Equities

Learn more on CalPERS active and passive management of U.S. equities through external managers and our internally managed portfolio.

International Equities

CalPERS utilizes internal and external managers for our passive and active international equities investment portfolio.

External Manager Development Program

Review details on this innovative program which focuses on providing opportunities to new and emerging money managers.

External Manager Fund of Funds Program

Learn more about CalPERS External Manager Fund of Funds program.

External Managers

Review a listing of names and contact information for the external money managers handling our Alternative Investment Program, U.S. equities, and international equities investments.

Dated: 02-25-2014