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Press Release


January 20, 2009


CalPERS Seeks Diversity Investment Consultants


SACRAMENTO, CA –The California Public Employees Retirement System (CalPERS) today began seeking consultants to help the $200 billion fund develop strategies and programs for investments in emerging domestic markets and emerging managers.

The request for proposals asks candidates to deliver competitive bids to CalPERS no later than February 22, 2006.

If selected, consultants with institutional investment and diversity experience will help CalPERS lay the groundwork for an investment approach that takes advantage of all talent, skills, and ideas in the market.

"We intend to seize opportunities created by significant demographic shifts at the state and national levels," said Anne Stausboll, Interim Chief Investment Officer. "We believe we can gain a competitive advantage by drawing on the market's broadest investment talent, the widest experiences, and the most varied perspectives – especially in California."

As early as April 2006, CalPERS will establish the diversity investment consultant pool of advisory firms to make recommendations about strategies and programs on an as-needed basis. The pension fund plans to enhance its diversity policies and practices by developing a comprehensive strategy that reaches across asset classes. In addition, the fund plans to have pool consultants review best practices and make programmatic recommendations.

In recent years, CalPERS has increased its investments in emerging markets. It has more than $4.5 billion invested or committed for investment in underserved California markets.

For example, CalPERS has $475 million invested with 10 private equity firms that target investments in underserved California markets. It also has more than $2 billion committed to an investment program that emphasizes urban redevelopment and residential and mixed-use investments in California.

A copy of the request for proposal (RFP) can be found on CalPERS On-Line at www.calpers.ca.gov under "For Business Partners."

CalPERS is the nation's largest public pension fund with assets totaling more than $200 billion. The System provides retirement and health benefits to more than 1.4 million State and local public employees and their families. For more on CalPERS, visit www.calpers.ca.gov.

Contact: Brad Pacheco/Pat Macht
Office of Public Affairs
(916) 795-3991

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