CalPERS in Pacific Rim Venture

The California Public Employees’ Retirement System Board of Administration announced what it formed a historic $225-million partnership with the Asian Development Bank to make long-term, direct private equity investments in the emerging markets of the Asia-Pacific region. CalPERS called the partnership an international first for a U.S. public pension fund to team up with a multilateral bank. Separately, James Gomez, head of the California prison system since 1991, has been named deputy executive officer at CalPERS. Gomez, 47, whose tenure at the Corrections Department was often marked by controversy, will serve as CalPERS’ chief operating officer under Chief Executive James E. Burton.