US pension fund CalPERS approves direct PE investment plan

US pension fund CalPERS approves direct PE investment plan

Signage stands outside the offices of the California Public Employees' Retirement System (Calpers) in Sacramento, California, U.S., on Monday, Sept. 13, 2010. California Governor Arnold Schwarzenegger backed off a proposal to borrow $2 billion from the California Public Employees' Retirement System to help balance a state budget now almost three months overdue. Photographer: Bloomberg/Bloomberg Photo by Bloomberg

US pension fund California Public Employees’ Retirement System (CalPERS) has received tentative approval to move ahead with its plan to create two new ventures that would directly invest in late-stage venture capital and privately held companies, according to a board meeting document.

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