CalPERS is committed to investing in California. We seek competitive risk-adjusted returns while contributing to the well-being of the state, its localities, and residents by:
- Increasing or improving the supply of affordable and workforce housing and developing critical infrastructure
- Providing the conditions for business growth
- Stimulating job creation
Our investments in California are a direct result of the strength and diversity of California's economy and the quality of its companies, properties, and other investment opportunities relative to comparable financial opportunities.
As of June 30, 2016, CalPERS had $27.3 billion invested in California, across asset classes in public equities, fixed income, private equity, real estate, and infrastructure. These investments support 1.4 million jobs in California.
California Infrastructure Program
In 2011, the CalPERS Board of Administration approved the allocation of up to $800 million over three years for investment in California infrastructure with the goal of investing in essential infrastructure assets. We actively seek infrastructure investment opportunities that meet our risk-adjusted return objectives and have the potential to benefit the local economies and essential community services of California.
CalPERS developed an outreach plan to engage state and local governments in exploring the role pension systems could play in facilitating infrastructure investment in California. We also participated in the creation of the new West Coast Infrastructure Exchange (WCX), an organization bringing together key stakeholders in California, Oregon, Washington, and British Columbia focused on addressing the region’s infrastructure needs.
To read a summary of discussions and findings on collaborative efforts to develop investment opportunities, view the Infrastructure Investment Outreach Review (PDF, 1.22 MB).
For more information, read the West Coast Infrastructure Exchange Final Report (PDF, 7.21 MB)
The California Initiative
The California Initiative is a $1 billion private equity investment vehicle that invests in private companies in underserved markets, primarily located in California.
The objective is to generate attractive financial returns. As an ancillary benefit, the California Initiative was designed to create jobs and promote economic opportunity in California. To determine the extent of the ancillary benefits, CalPERS measures the impact of the California Initiative by examining portfolio companies that:
- Employ workers living in economically disadvantaged areas
- Provide employment opportunities to women and minority entrepreneurs and managers
- Traditionally have limited access to institutional equity capital
You can check our progress by referring to the California Initiative reports.