Calpers board member objects to $80bn leverage gamble

Calpers board member objects to $80bn leverage gamble

A Calpers board member has hit out at the $400bn US public pension scheme’s investment policy that pushes deeper into private equity and private debt by using leverage equivalent to 20 per cent of the fund’s assets. “I don’t agree with leveraging the fund up to $80bn by investing more in private equity and private […]