California Public Employees' Retirement System

California Public Employees' Retirement System (CalPERS) is a defined-benefit public pension fund based in Sacramento, California, founded in 1932. It serves as an investment manager dedicated to providing retirement and health benefit programs for public employees, retirees, and their families. The organization administers a variety of programs aimed at ensuring the financial security of its members. In addition to managing retirement benefits, CalPERS offers administrative support services, real estate asset management, and corporate relations. The firm oversees a diverse range of investment portfolios, including equity, fixed income, and alternative investments, as well as real estate and cash equivalents. CalPERS invests in both domestic and global markets, focusing on high-quality securities while also exploring opportunities in emerging markets and small-cap companies. Its governance structure includes a board of directors responsible for overseeing the management of its assets.