Posted on 10/29/2025 10:02:28 AM PDT by bitt
The California Public Employees’ Retirement System (CalPERS) for state employees lost 71 percent of a $468 million private equity investment into clean energy.
Because CalPERS pension benefits are only 79 percent funded, the California taxpayer and state government have to make up for the other 21 percent. With a high pension shortfall of $180 billion, CalPERS’ investment strategies into private equity have come under scrutiny, per The Center Square:
CalPERS committed $465 million to the private equity CalPERS Clean Energy & Technology Fund (CETF) in 2007, ultimately paying in $468,423,814.
Since then, the cash out and remaining investment value of the investment fund has declined to $138,045,373, as of March 31,2025.
That’s a loss of 71 percent, or more than $330 million, for which private equity firms were paid at least $22 million in fees and costs.
For the 2024-2025 fiscal year, CalPERS’ overall returns stood at 11.6 percent, with private equity returns totaling 14.3 percent and public equity returns totaling 16.8 percent.
Marc Joffe, a public finance expert and visiting fellow at the California Policy Center, questioned why CalPERS has placed a significant amount of money into far riskier and more costly private equity investments when returns were nearly equal to public equity investments.
(Excerpt) Read more at breitbart.com ...
Karma and stupidity go hand in hand.
Graft is an ugly word.
I’m sure some people profited handsomely from the risky and foolish investments. Probably the DNC.
Quel suprise!
Not surprising, given that Democrats were in charge.
Anyway, I hope they paid for that $468 million using a cash-back credit card. That would soften the blow, at least a little. 😀
LOL!!!
I could make some crude sexual innuendo joke, but I’ll pass.
Green energy loss, while my tobacco stock doubles in price and pays over 5% dividends.
This year I started buying a lot of stock on Cash App. I have over $5000 now invested with 19% gain for the year. I put $50 into one stock that was solar. It went bankrupt 3 months later. I sold my stock for 1 cent to close it out. Loss $49.99.
>>California State Retirement Fund Lost 71% of $468 Million Clean Energy Investment
And the rest, they wasted.
Idiots.
They’re already woefully underfunded and then they go and spend it on magic beans.
4 Corrupt Families of California - Newsom, Brown, Pelosi and Feinstein
https://www.youtube.com/watch?v=RUJCR8XhmoY
Michael Jaco Situation Update Oct 29: “Enemies Of The State In Governors And Mayors Offices, DA’s, FBI, CIA Etc Will Soon See Mil Tribunals”
+1 We probably have the same stock.
If there was money lost, you can assume that someone else profited by it...just not those who thought it would be them because they paid into it.
Green is a Scam
Took the money out of Oil and put it into the Green Scam ?
They’re slipping.
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