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I wonder how well CDOs performed for pensions before the bottom dropped.
by Apocryphon 2y ago
I wonder how well CDOs performed for pensions before the bottom dropped.
- renewiltord 2y agoThey did well but that loss was bad because of knock-on effects to the market. CalPERS lost some half of its value back then. But exposure to VC is very small (1-2% of fund size). They've marked down a lot of investments by more than the GFC losses but it barely affects CalPERS because <15% is in private markets and a small fraction of that is in venture. That fund alone is over half a trillion so that's still a lot of money to allocate.