{"id":473756,"date":"2026-06-12T13:17:38","date_gmt":"2026-06-12T13:17:38","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/473756\/"},"modified":"2026-06-12T13:17:38","modified_gmt":"2026-06-12T13:17:38","slug":"a-600-billion-experiment-kicks-off-at-calpers-pension-fund","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/473756\/","title":{"rendered":"A $600 Billion Experiment Kicks Off at CalPERS Pension Fund"},"content":{"rendered":"<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody___5jDr\" data-component=\"paragraph\">Stephen Gilmore\u2019s 40-year tour of global finance has given him a front-row seat to the Russian debt crisis, the bailout of a financial giant and the rise of sovereign wealth funds. It\u2019s also taken him to a war zone. As the International Monetary Fund\u2019s representative in Tajikistan in the 1990s, Gilmore hunkered down in his office for three days as a militia advanced on the capital city of Dushanbe.<\/p>\n<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody___5jDr\" data-component=\"paragraph\">Now he has what many consider the hardest job in investing. Gilmore runs the $600 billion portfolio of the California Public Employees\u2019 Retirement System, the largest pension fund in the US. \u201cIt takes a lot to bother him,\u201d says Marcie Frost, chief executive officer of CalPERS and Gilmore\u2019s boss.<\/p>\n","protected":false},"excerpt":{"rendered":"Stephen Gilmore\u2019s 40-year tour of global finance has given him a front-row seat to the Russian debt crisis,&hellip;\n","protected":false},"author":2,"featured_media":473757,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[27463,138,179,19983,246,27464,238982,111,139,69,244,245,6832,5567,238981,314,3912],"class_list":["post-473756","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-alternative-investments","tag-business","tag-california","tag-chief-executive-officer","tag-finance","tag-international-monetary-fund","tag-markets-magazine","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance","tag-portfolio-management","tag-private-equity","tag-stephen-gilmore","tag-superannuation","tag-wealth"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/473756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=473756"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/473756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/473757"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=473756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=473756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=473756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}