From the Wall Street Journal:
Calpers Head Aims
To Start Own Fund
Focusing on Sector
Russell Read, chief investment officer for the California Public Employees' Retirement System, plans to launch his own clean-tech-focused private-equity fund....MORE
Meanwhile, back at the behemoth, they try to balance activism, civil service employment and ROI:
...``It would not seem appropriate to engage in projects that had an impact on their jobs,'' Diehr said in an April 26 interview. ``I don't see it as that restrictive in light of the huge need for infrastructure development, both in the United States and internationally.''
A Calpers committee overseeing investment policy met April 21 to review proposed guidelines for infrastructure investments, Diehr said. The fund already has guidelines to ensure it doesn't make decisions that would eliminate jobs of pension members.
``There are a fur ball of issues,'' said Casey Jennings, a principal at Lincoln Road Partners LLC in Lincoln, Massachusetts, which arranges debt financing for municipalities. ``How does a pension fund invest in infrastructure amid privatization, when its fiduciary responsibility is to get the best, safest return?''>>>MORE from Bloomberg