Largest US Public Pension Has ‘Very Strong Conviction’ in Private Equity, CEO Says
Marcie Frost, chief executive officer of California Public Employees' Retirement System (Calpers), during an interview in San Francisco in 2023.
Photographer: Michaela Vatcheva/BloombergThe largest public pension plan in the US is committed to private equity, according to its chief executive officer, Marcie Frost, even as the asset class has struggled to return cash to its investors amid a prolonged deal slump.
“We still have very strong conviction in private equity,” Frost, the CEO of the California Public Employees’ Retirement System, said in an interview with Bloomberg TV on Tuesday.