How I Invest with David Weisburd
E78: Fmr. CIO of CalPERS ($495 Billion) on Private Markets Investing
Jul 18, 2024
Former CIO at CalPERS, Dr. Russell Read, talks about large scale pensions' allocation to private markets, co-investment programs structuring, and theoretical allocation strategies. They also discuss investing in international markets, building relationships with the venture community, co-investments in private markets, retirement funding strategies, and strategic approaches to private markets investing.
29:34
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Quick takeaways
- Transitioning to embrace private markets led Alaska Permanent Fund to outperform, showcasing strategic adaptability.
- Effective co-investment strategies with external partnerships enable quicker, informed decisions and project evaluations.
Deep dives
Transition of Alaska Permanent Fund's Performance
Historically a conservative fund, Alaska Permanent Fund transitioned from a third, fourth quartile performer to the best in public funds over the last decade, with an ironic $20 billion potential gain had they been median performers. Pressure and a shift towards embracing private markets significantly contributed to its success, highlighting the impact of strategic changes and adapting to new investment opportunities.
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