CalPERS' emerging private equity managers lag counterparts by more than 200 basis points

CalPERS is holding its Emerging Manager and Diverse Manager Forum on Monday to describe the objectives and initiatives of the program, and to outline its five-year plan. According to materials released by CalPERS, emerging managers account for just over 22% of the pension fund's current private equity investments. Over the past 10 years, these managers' net internal rate of return have trailed non-emerging managers by 207 basis points annually. Since inception, emerging managers have trailed their counterparts by 110 basis points.

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