
Why private equity is growing so fast — Quartz
CalPERS, the $360 billion California’s state pension fund, just announced plans to increase its investments in private equity. It’s not hard to see why. Despite the high fees charged by private equity funds, CALPERs claims there are huge payoffs. Its private equity portfolio returned 16.1% in 2017, compared to just 11.5% for its stock portfolio, and…