The California Public Employees’ Retirement System has sold $6 billion of its $50 billion in private equity at a discount of 10%, news service Bloomberg reported.
The sale comes as the pension fund is putting more of its assets into private equity.
“The sale positions us to act on our new asset allocation and allows us to capitalize on market opportunities,” said Nicole Musicco, CalPERS’ chief investment officer, in an emailed statement from CalPERS. Musicco started at the end of March.
