CalPERS Chief Navigates $600B Pension

Stephen Gilmore, now leading the nation’s largest pension fund CalPERS with $600 billion under management, is tackling a monumental challenge: boosting funding from 74% to meet future obligations for 2 million retirees. Despite past leadership turnover and criticism over fees and transparency, Gilmore’s first two years have already outlasted predecessors, and his strategy—called Total Portfolio Approach—is reshaping how investments are made by encouraging cross-team collaboration for maximum returns. With CalPERS recently hitting its best returns since 2021 and ranking among the top 5% of global pension funds, Gilmore is focused on long-term gains, not headlines, aiming to deliver billions in added value while ensuring California’s schools, housing, and healthcare aren’t shortchanged if returns fall short of the 6.8% target. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/70a067cf369d5e65