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ARTICLE · 08 MARCH 2022

CalPERS' Russian Investments

Allen Matkins Leck Gamble Mallory & Natsis LLP
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The California Public Employees Retirement System (CalPERS) styles itself as the United States' largest public fund. In response to a letter from Governor Newsom...

United StatesStrategy
Keith P. Bishop
Keith P. Bishop

The California Public Employees Retirement System (CalPERS) styles itself as the United States' largest public fund. In response to a letter from Governor Newsom, CalPERS has reported that it has over three quarters of a billion dollars in Russian investments, consisting of $420 million in public stocks and $345 million in illiquid real estate assets. Although these are sizable amounts, CalPERS claims that combined they represent only 0.17% of its total investment portfolio.

In response to Russia's attack on Ukraine, CalPERS has announced the following actions:

  • CalPERS has ceased all transactions in Russian publicly traded equity and has stopped the flow of any new investments into the country.

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