The CalPERS gamble: Why the push to invest in private equity alarms public employees

The CalPERS gamble: Why the push to invest in private equity alarms public employees

Guest Commentary written by Devara Berger Devara Berger is managing editor and director of public relations for the Retired Public Employees’ Association of California.  Public employees’ retirement security depends on the integrity of the California Public Employees’ Retirement System (CalPERS). However, its CEO, Marcie Frost, is steering the fund into a high-stakes gamble on private equity and private credit, pushing exposure toward 17%. Whil…