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California Public Employees' Retirement System (CalPERS)
California Public Employees' Retirement System operates as a public defined benefit pension plan. Marcie Frost holds the Chief Executive Officer role.
California Public Employees' Retirement System (CalPERS)
California Public Employees' Retirement System operates as a public defined benefit pension plan. Marcie Frost holds the Chief Executive Officer role. Stephen Gilmore serves as Chief Investment Officer. The portfolio spans public equities, buyout strategies, real estate, and infrastructure. Confirmed holdings include long positions in NVIDIA, Microsoft, and Apple. Additional exposure comes through limited partner commitments to Blackstone, Carlyle, KKR, and TPG funds. Real estate assets include joint ventures with GI Partners and BentallGreenOak focused on industrial and multifamily properties in the United States. The fund lists 43 enriched network items covering assets, holdings, and relationships. It maintains memberships in the Council of Institutional Investors and Principles for Responsible Investment. Service providers include State Street as master custodian and Wilshire Advisors as investment advisor. Governance centers on a Board of Administration that includes the California State Controller and State Treasurer as members.
General information
Firm type
Pension Fund
Year founded
1932
Location
Region
North America
Country
United States
City
Sacramento
Principals
Marcie Frost
Chief Executive Officer
Stephen Gilmore
Chief Investment Officer
Theresa Taylor
President of the Board of Administration
David Miller
Vice President of the Board of Administration
Sector focus
Frequently asked questions
Who runs investment decisions at CalPERS?
Marcie Frost serves as Chief Executive Officer. Stephen Gilmore holds the Chief Investment Officer position. The Board of Administration provides oversight.
Does CalPERS participate in fund commitments or only direct deals?
The fund acts as a limited partner in multiple private equity vehicles. It also holds direct real estate and infrastructure assets through joint ventures.
Which sectors does CalPERS allocate to in public markets?
Public equity holdings concentrate in technology names including NVIDIA, Microsoft, Apple, and Alphabet. Financials exposure includes JPMorgan Chase.
What is CalPERS known posture on co-investments alongside external GPs?
The fund maintains limited partner relationships with multiple buyout managers. Direct asset ownership occurs through joint ventures in real estate and infrastructure.
Where does the underlying wealth come from?
Assets derive from contributions by California public employers and employees for defined benefit retirement obligations.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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