California's giant public pension fund is looking to increase its venture capital exposure in the coming months, despite a swoon in the startup market and lackluster performance of late by the fund's VC portfolio.
Between 2000 and 2020, CalPERS underperformed the venture market, according to a PitchBook report, notching annual returns of 0.49%.
In the last year, while CalPERS' PE portfolio returned −4.7%, CalPERS' venture investment performance came in at −24.8%.
The pension fund's investments have skewed to the public market and to so-called "real assets," such as property.
WATCH: Pension funds venture investments
Persons:
Anton Orlich, Orlich, CalPERS
Organizations:
California Public Employees, National Venture Capital Association, Venture
Locations:
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