CalPERS agreed to release private equity records to the public, including fee information, to settle a lawsuit brought by the California First Amendment Coalition. Under the settlement, the $177.8 billion pension fund will provide the dollar amount of gains and profits from its 300 private equity and hedge funds since 1999, and management fees and other costs since 2001. Data for 2004-2005 have not been released.
The suit, filed in September, sought to discover the costs and performance of CalPERS' private equity investments; fund officials had refused the coalition's earlier requests for the information, citing concerns about being excluded from the best funds. Sacramento-based CalPERS has $21.1 billion in private equity and $2 billion in hedge funds.