CalPERS Reveals Long-Awaited Carried Interest Fees
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CalPERS CIO Ted Eliopoulos
SACRAMENTO, CA—On Thanksgiving Eve, the California Public Employees’ Retirement System, or CalPERS, released its long-awaited survey on carried interest fees it had been charged by its private equity investments.
Bottom line: It has paid out $3.4 billion since 1990.
During that same period CalPERS realized $24.2 billion in net gains.
In the 2014-2015 fiscal years, CalPERS realized $4.1 billion in private equity net gains while its external investment partners realized $700 million from profit sharing agreements.
CalPERS broke out the fees it paid to the individual private equity managers. That list can be found here…
