This committee reviews investment transactions, the investment performance of both internal and external managers, and establishes investment policy and strategy.

(Agenda items are provided in a PDF format, which require Adobe Reader 8 or higher to view.)

Meeting Agenda for November 14, 2016

8:45 a.m. - Closed Session

Or Upon Adjournment or Recess of Board Closed Session, Whichever is Later

Chief Investment Officer's Briefing on Market and Personnel Issues
(Government Code sections 11126(a)(1) and (c)(16))

9:00 a.m. - Open Session

Or Upon Adjournment or Recess of Closed Session, Whichever is Later

Open Session

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Executive Report – Chief Investment Officer Briefing Ted Eliopoulos
    3. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the September 19, 2016 Investment Committee Meeting Minutes
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the December 19, 2016 Investment Committee Meeting
      3. Monthly Update – Performance and Risk
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
      4. Monthly Update – Investment Compliance
        1. Attachment 1
        2. Attachment 2
      5. Federal Investment Policy Representative Update
        1. Attachment 1
  2. Action Agenda Items
    1. Total Fund
      1. California Public Divest from Iran ActKit Crocker
        1. Attachment 1
    2. Legislation
      1. State Legislative Proposal: Authorized Collateral for Security Loan AgreementsMary Anne Ashley, Wylie Tollette
  3. Information Agenda Items
    1. Legislation
      1. Annual Review of the Legislative and Policy Engagement Guidelines – First ReadingMary Anne Ashley, Wylie Tollette
        1. Attachment 1
        2. Attachment 2
    1. Program Review
      1. Private Equity Annual Program ReviewRéal Desrochers
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
      2. Consultant Review of the Private Equity ProgramMichael Moy, Andrew Bratt, Pension Consulting Alliance
        1. Attachment 1
      3. Real Assets Annual Program Review Paul Mouchakkaa
        1. Attachment 1
        2. Attachment 2
      4. Consultant Review of the Real Assets ProgramDavid Glickman, Christy Fields, Dillon Lorda, Pension Consulting Alliance, Andrew Junkin,Wilshire Associates Consulting, David Altshuler, StepStone
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
    2. Summary of Committee Direction (Oral Report)Ted Eliopoulos
    3. Public Comment

Closed Session

Upon Adjournment or Recess of Open Session
(Government Code sections 11126(a)(1), (c)(16) and (e))

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the September 19,2016 Investment Committee Meeting Minutes
    3. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Closed Session Activity Reports
        1. Status of Action Items Not Yet Reported
        2. Items Completed Under Delegated Authority
        3. Disclosure of Placement Agent Fees: Proposed Investments
        4. Investment Proposal Status Reports
  2. Action Agenda Items
    1. Total Fund
      1. California Public Divest from Iran ActKit Crocker
  3. Information Agenda Items
    1. External Manager and Investment Decision Updates
      1. Private EquityRéal Desrochers
      2. Real AssetsPaul Mouchakkaa
      3. Global EquityDan Bienvenue
      4. Global Fixed Income ProgramsCurtis Ishii
      5. OpportunisticTed Eliopoulos
      6. Asset AllocationEric Baggesen
    2. Chief Investment Officer – Personnel, Employment and PerformanceTed Eliopoulos

Notes

  1. Items designated for information are appropriate for Committee Action if the Committee wishes to take action. Any Agenda Item from a properly noticed Committee meeting, held immediately prior to this Board meeting, may be considered by the Board.
  2. The hour designated as the earliest starting time for this meeting is not intended to communicate the expected duration (or ending time) of the preceding meeting.
  3. Public comment may be taken on any Agenda item. There is a three-minute limitation on each public comment, unless otherwise directed by the Committee Chair.
  4. Board members may attend meetings of committees of which they are not members and participate in the discussions during those meetings.


Location

CalPERS Headquarters
Robert F. Carlson Auditorium
Lincoln Plaza North
400 P Street
Sacramento, CA 95811

Parking
CalPERS Building Guide (PDF)

Security

For your safety, attendees are screened upon entering the auditorium.