Calpers Culls External Managers in Portfolio Overhaul

The video discusses the challenges and strategies in managing a large investment portfolio, focusing on the importance of discipline in selecting strategies and managers. It highlights the shift from numerous external managers to specialized boutique managers in real estate, and debates the benefits of scale and diversification in private equity. The video also examines the tension between asset gathering and performance delivery, particularly for publicly traded asset managers, and concludes with a discussion on the successful performance of private equity portfolios over time.

What concerns are associated with asset managers focusing on raising money?

Discuss the performance comparison between private equity and global equity portfolios.