US pension fund CalPERS approves direct PE investment plan

Signage stands outside the offices of the California Public Employees' Retirement System (Calpers) in Sacramento, California, U.S., on Monday, Sept. 13, 2010. California Governor Arnold Schwarzenegger backed off a proposal to borrow $2 billion from the California Public Employees' Retirement System to help balance a state budget now almost three months overdue. Photographer: Bloomberg/Bloomberg Photo by Bloomberg