# CalPERS

CalPERS is a Pension Fund based in Sacramento, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Sacramento, United States
- **Region:** North America
- **Address:** Lincoln Plaza East, 400 Q Street Room 1820, Sacramento, CA, United States
- **Founded:** 1932
- **Assets under management:** 530750 (Altss research record) (Altss estimate)
- **Website:** calpers.ca.gov
- **LinkedIn:** https://www.linkedin.com/company/calpers

## Regulatory record

- **Reports private funds:** No

## About

CalPERS is the largest public pension fund in the nation and serves as an agency in the California executive branch. It manages pension and health benefits for over 2 million state school and public agency members retirees and their families and maintains their earned retirements and health security. The fund pursues shareholder activism and significant investments.

## Sectors

- Diversified
- Infrastructure
- Real Estate
- Private Equity

## People

- Marcie Frost — Chief Executive Officer
- Stephen Gilmore — Chief Investment Officer
- David Miller — President of the Board of Administration

## Questions

### Who runs investment decisions at CalPERS?

Stephen Gilmore serves as Chief Investment Officer. Marcie Frost holds the CEO role. The Board of Administration provides oversight.

### Does CalPERS participate in fund commitments or only direct deals?

CalPERS uses both fund commitments and direct co-investments. It also holds joint venture real estate positions and listed equities.

### What asset classes receive the largest allocations?

Public equities form the largest segment. Private equity carries a 17 percent target allocation. Real estate and infrastructure follow with dedicated programs.

### Where does CalPERS maintain geographic exposure?

Holdings concentrate in the United States with additional forestland positions in Latin America and Asia Pacific plus global infrastructure assets.

### How is CalPERS related to other California pension systems?

CalPERS co-hosts events with CalSTRS. Both organizations manage separate member bases under state frameworks.

### What external consultants support CalPERS operations?

State Street Bank acts as master custodian. Meketa Investment Group and Wilshire Associates provide real estate and forestland advisory services.

### Does CalPERS maintain membership in responsible investment networks?

CalPERS belongs to the Ceres Investor Network, Climate Action 100+, and the UN Principles for Responsible Investment.

## Related profiles

- [Mercer Investment Solutions](https://altss.com/profile/mercer-investment-solutions)
- [California Public Employees' Retirement System (CalPERS)](https://altss.com/profile/california-public-employees-retirement-system-calpers)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/calpers-california-public-employees-retirement-system

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