CalPERS, the largest public pension fund in the United States with total assets under management of over $582 billion, is making its first ever investment allocation to the insurance-linked securities sector, we understand in catastrophe bonds, Artemis has learned.
The California Public Employees’ Retirement System, or CalPERS, is one of the largest institutional investors in the world.
In the past, we’re told that CalPERS has made investments into reinsurance structures such as sidecars, but has never allocated to a dedicated insurance-linked securities (ILS) fund or catastrophe bond fund strategy before.
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