CalPERS

CalPERS, which stands for the California Public Employees' Retirement System, is a public pension fund and the largest public pension fund in the United States. It provides retirement, health, and related benefits to more than 1.5 million California public employees, retirees, and their families. CalPERS manages a large portfolio of investments to fund these benefits.

CalPERS was established in 1932 and is governed by a Board of Administration. Its primary responsibility is to ensure the long-term financial security of its members' retirement benefits. The fund invests in a variety of asset classes, including stocks, bonds, real estate, private equity, and infrastructure.

Beyond its role as a pension fund, CalPERS is also known for its corporate governance activism. It actively engages with companies in which it invests to promote sound corporate governance practices, environmental sustainability, and social responsibility. CalPERS believes that good governance and responsible corporate behavior contribute to long-term shareholder value.

The size and influence of CalPERS make it a significant player in the global financial markets. Its investment decisions and corporate governance initiatives are often closely watched by other institutional investors and the broader business community.