Administration August 12, 2003

CalPERS Posts Private Equity Data on Web

December 20, 2002 (PLANSPONSOR.com) - The California Public Employees' Retirement System (CalPERS) has posted on its Web site private equity investment performance information for the $140-billion fund.
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The  data release   was part of a settlement of lawsuit this week against CalPERS by the San Jose Mercury News ( CalPERS to Provide Private Equity Info ), which was approved by a judge Friday.

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.

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