Powered by Financial Investment NewsCalif. Initatives To Promote Emerging Manager Programs
By G. Thomas Stromberg and Elizabeth C. Sluder, Kaye Scholer LLP
Newly enacted California Senate Bill 294 (the “Senate Bill”) requires the California Public Employees’ Retirement System (”CalPERS”) and the California State Teachers’ Retirement System (”CalSTRS”), the nation’s largest public pension funds, to establish five-year strategic plans for emerging investment manager participation across all asset classes and to provide annual reports on the progress of such plans.