Throwing away good money. Pension plan loses 71% of investments in clean energy.
CalPERS committed $465 million to the private equity CalPERS Clean Energy & Technology Fund (CETF) in 2007, ultimately paying in $468,423,814.
Since then, the cash out and remaining investment value of the investment fund has declined to $138,045,373, as of March 31,2025.
That’s a loss of 71 percent, or more than $330 million, for which private equity firms were paid at least $22 million in fees and costs.
Nuff Said.
