The strategic objective of the Corporate Governance Investment Program (CGIP) is to broaden the opportunity set of CalPERS Investment portfolio by achieving returns not available in traditional public markets. The CGI Program focuses on highly concentrated portfolios and incorporates an active engagement strategy to unlock value through operational, strategic, and governance changes.

The program has $5.1 billion dollars of capital invested amongst 17 external corporate governance managers and co-investment partners. The asset allocation of the program contains both domestic and international countries, including the U.S., Europe, UK, and Japan. Since inception in January 1999, the Corporate Governance Investment program has outperformed its Corporate Governance (CG) Weighted Benchmark by 582 basis points (net of fees).

In February 2007, the CalPERS Board of Administration approved expansion of the CGI Program to include investments in foreign emerging markets and in May 2008 we made our first investment in a Korean corporate governance fund.

For information on the policies guiding CalPERS Corporate Governance Investment Program please click on the following hyperlink: Global Equity Policies.