Why Calpers Is Betting $1B on Upstart Private Equity Firms

The transcript discusses CalPERS' investment strategies, focusing on the balance between large and emerging managers, the challenges of private vs public market returns, and the potential of emerging managers to deliver excess returns. It highlights the importance of strategic partnerships, adapting to market volatility, and the role of ESG in sustainable investing.

What role does ESG (Environmental, Social, and Governance) play in CalPERS' investment strategy?

How does CalPERS view the performance of diverse and underfunded minority managers in the investment landscape?

What is the significance of the term 'excess returns' in the context of CalPERS' investment approach?