The California Public Employees’ Retirement System (CalPERS) has committed a total of $400 million to three emerging managers in the pension fund’s Manager Development Program for public equity investment. Continuing CalPERS' commitment to progressive investment management approaches, the plan earmarked $100 million each to Quotient, an employee-owned investment company for a new environmental, social and governance product.
CalPERS will receive an undisclosed equity stake in each of the new firms in exchange for working capital.
“These emerging managers will play an important role in our effort to nurture potential diverse major players in the financial markets,” said Joseph Dear, CalPERS Chief Investment Officer.
Read more at Finance GreenWatch
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