California Public Employees’ Retirement System (CalPERS) and California State Teachers’ Retirement System (CalSTRS), the two largest U.S. pensions funds, have exposure to Russian assets, which have come under pressure after Russia invaded Ukraine on Thursday, according to statements from the funds.
A spokesperson for CalPERS, which manages the largest U.S. public pension fund, said late on Thursday that the fund had around $900 million of exposure to Russia, but no Russian debt.
