Calpers raises private equity, venture allocation
SACRAMENTO, Calif., June 15 (Reuters) - The board of Calpers, the biggest U.S. public pension fund, voted on Monday to allow its investment staff to increase its asset allocation for private equity and venture capital investments and to reduce its stock holdings.
The board of Calpers, the California Public Employees' Retirement System, voted to raise the fund's Alternative Investment target allocation for private equity and venture capital investments by 4 percent to 14 percent of its recommended portfolio allocation.
Calpers' board reduced the fund's Global Equity target allocation to 49 percent from 56 percent of its portfolio allocation.
(Reporting by Jim Christie, Editing by Chizu Nomiyama)
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