CalPERS agreed to release internal rate of return (IRR) performance data for each of the pension fund’s private equity funds, including the date the investment was made and the capital that has been given to the private equity fund and the cash returned to the System in the form of profits.
CalPERS said it would release this data for the quarters ended June 30, September 30, and December 31, 2002, as well as March 30, 2003. However, under terms of the settlement, CalPERS will not release portfolio company information
In October the News sued CalPERS claiming the state’s taxpayers and public employees had a right to know about its private investments. Although previously available from CalPERS, the fund refused the request under the state’s Public Records Act, saying that such data now would “offend the firms it invests in”, and therefore hurt CalPERS’ investor status.