Possible scenario
Governance Backlash
18% Chance
The decision draws scrutiny because CalPERS had already increased leverage and private-equity targets while exits remained constrained. Labor representatives, state officials and outside advisers question whether the fund is accepting too much valuation and liquidity risk.
Secondary impacts
- Finance -0.4%
- Technology +0.3%
- Business Services -0.1%
Tickers
- BX-0.6%
- KKR-0.6%
- APO-0.3%
- -0.3%
Portfolio impact
S&P 500+0.1%
Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.
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