CA Treasurer Asks Pension Funds to Invest in State
The East Bay Business Times reports that Angelides’ Cal-Build proposal would supplement any infrastructure bond package approved by voters. Cal-Build calls on the CalPERS and CalSTRS to invest up to 5% of their assets to finance the infrastructure projects.
Potential Cal-Build investments would include water-supply and conservation projects, toll bridges and tunnels, energy transmission projects, energy conservation efforts in public buildings, and dedicated transportation facilities to move cargo from ports, according to the news report. Angelides said the proposal would offer the retirement systems an additional diversification option and a steady projected return of six to 8%.
Neither fund has responded to Angelides proposal.
CalPERS and CalSTRS are the nation’s largest and second largest public pension funds with $207 billion and $137 billion in assets, respectively.
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