CalSTRS Ailman on California's New Fee Disclosure Law

The transcript discusses a new disclosure law affecting fees paid by public pension systems to private equity and hedge funds. CalPERS CIO Chris Ailman explains the law's impact on investment models, emphasizing the need for transparency in fee disclosure. The conversation covers the challenges of achieving expected returns in private equity, the importance of diversification, and strategies for future investments. The discussion highlights the evolving landscape of private equity returns and the necessity of adapting investment strategies to meet long-term targets.

What changes in return expectations for private equity have been noted?

What strategies are being considered to reach the target allocation for private equity?

What are the anticipated challenges for private equity investments in the coming years?