Key Takeaways
- • CalPERS plans to expand its private-credit allocations targeting the energy transition, according to Bloomberg, citing its analysis that the area is undervalued by the market.
- • CalPERS already holds an $800 million allocation to a Goldman Sachs Asset Management-run fund in the strategy.
- • Peter Cashion, who oversees the pension's sustainable investment strategy, says the fund is now looking to place more client money into similar funds.
Summary
The California Public Employees' Retirement System (CalPERS) is preparing to build out its private-credit investments focused on the energy transition, an area the pension fund's analysis indicates is undervalued by the market, according to Bloomberg.
CalPERS already has exposure to the strategy through an $800 million allocation to a fund managed by Goldman Sachs Asset Management. The pension is now evaluating placing additional client money into similar funds, according to Peter Cashion, who oversees the system's sustainable investment strategy.
The source article is brief and does not disclose target allocation sizes, timing, or specific fund managers under consideration, so further details on the scope of the expansion are not available from the reporting.
CalPERS already has exposure to the strategy through an $800 million allocation to a fund managed by Goldman Sachs Asset Management. The pension is now evaluating placing additional client money into similar funds, according to Peter Cashion, who oversees the system's sustainable investment strategy.
The source article is brief and does not disclose target allocation sizes, timing, or specific fund managers under consideration, so further details on the scope of the expansion are not available from the reporting.
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