Report
Calpers shifts away from Big Tech and toward private equity
The Financial Times reports that the pension fund cut Magnificent Seven holdings amid doubts about valuations and spending.
TLDR
The Financial Times reports that Calpers is reducing its exposure to large US technology companies and increasing its private-equity investments. Bloomberg, citing the FT’s interview with Calpers deputy chief investment officer Anton Orlich, says the fund traded large exposure to seven companies for holdings in several hundred firms to diversify equity risk.
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