Agenda Item 5d - Attachment 2 - CalPERSPrivate Equity 6/4/2018 8/13/2018 Private Equity Program The...

CalPERSMonthly Update ndash Investment Compliance

MONTH ENDED JUNE 30 2018

1 CalPERS Monthly Update - Investment Compliance Month Ended June 30 2018

Agenda Item 5d Attachment 2 of 18

CalPERS Monthly Update ndash Investment Compliance

For the month ended June 30 2018

Items Completed Under Delegated Authority

Disclosure of Placement Agent Fees

Investment Proposal Activity

Policy Exceptions

Disclosure of Closed Session Action Items

Investment Transactions

Spring-Fed Pool Contract Status

Investment Policy Administrative Change

External Investment Resource Conflict of Interest Disclosures


Agenda Item 5d Attachment 2 Page 2 of 18

Items Completed Under Delegated Authority (for the month ended June 30 2018)

Program Area Name of InvestmentCommitment

(million) Initial Funding Date

Complies with Delegation

Number

Private Equity TowerBrook Structured Opportunities Fund II (Onshore) LP $25000 Jun-2018 INV-18-06

Private Equity TowerBrook Investors V (Onshore) LP $40000 Jun-2018 INV-18-06

Private Equity TPG Partners VIII $60000 Jun-2018 INV-18-06

Real Assets Land Management Company LLC $1550 Jul-2014 INV-16-07



Sheet1

Disclosure of Placement Agent Fees (for the month ended June 30 2018)

Firm Name TPG Biotechnology GenPar III LP

Asset Class Private Equity

Fund TPG Biotechnology Partners III LP

Placement Agent Firm

Jack Weingart Partner of TPGJames Gates Partner of TPGCharles Froeb Partner of TPGCatie Barile Employee of TPGAlastair Bushby Employee of TPGJames Callinan Employee of TPGJosh Evans Employee of TPGGriffan Howard Employee of TPGCharlie Madden Employee of TPGEmily Powers - Employee of TPGCatherine Quinn Employee of TPGAlex Schwartz Employee of TPGJennifer Shah Employee of TPGGrant Sutton Employee of TPGAndrew Tirbeni Employee of TPG

Placement Agent Employment Internal employees of the General Partner andor its affiliates

Registered with US or non-US financial

regulatory authority

TPGs broker-dealer affiliate TPG Capital BD LLC (TPG BD) regularly solicits investors for investment funds sponsored by TPG TPG BD is registered with the US Securities and Exchange Commission and is a FINRA member (CRD No 0143876) Certain employees of TPG Funding LLC or an affiliate thereof (collectively TPG Funding) serve as registered representatives (TPG BD Representatives) of TPG BD

Registered Lobbyist(s)

Mr Weingart is a registered lobbyist in the State of CaliforniaMr Gates is a registered lobbyist in the State of CaliforniaMr Froeb is a registered lobbyist in the State of California New York City Los Angeles San Diego and San JoseMs Barile is a registered lobbyist in the State of CaliforniaMr Bushby is a registered lobbyist in the State of CaliforniaMr Callinan is a registered lobbyist in the State of CaliforniaMr Evans is a registered lobbyist in the State of California and San JoseMr Howard is a registered lobbyist in the State of CaliforniaMr Madden is a registered lobbyist in the State of CaliforniaMs Powers is a registered lobbyist in the State of CaliforniaMs Quinn is a registered lobbyist in the State of CaliforniaMr Schwartz is a registered lobbyist in the State of CaliforniaMs Shah is a registered lobbyist in the State of CaliforniaMr Sutton is a registered lobbyist in the State of CaliforniaMr Tirbeni is a registered lobbyist in the State of California



Sheet1


Firm Name TPG Biotechnology GenPar III LP (contd)

Estimated Placement Agent Compensation

TPG Biotechnology GenPar III LP and its affiliates have not engaged compensated or agreed to compensate directly or indirectly any third-party placement agent in connection with the offer of assets securities or services to CalPERS or any CalPERS vehicle The Placement Agents listed above are employees of TPG Funding LLC or an affiliate of TPG Funding LLC and are paid an annual base salary plus a discretionary bonus for their activities as representatives of TPG Capital BD LLC which is not contingent upon the offer of assets securities or services to CalPERS on behalf of TPG Biotechnology Partners III LP Although the Placement Agents receive their compensation from TPG Funding LLC or an affiliate of TPG Funding LLC the Placement Agents are registered representatives of TPG Capital BD LLC an affiliate of TPG Funding LLC and a member of FINRA (CRD No 0143876) The approximate compensation of the employees of TPG Funding LLC or an affiliate of TPG Funding LLC who offered interest in TPG Biotechnology Partners III LP is roughly estimated at $16000 for one month although such compensation was not based directly on the amount of the CalPERS Commitment The compensation is an estimate based on the approximate time and attention spent by the Placement Agents for the TPG Biotech III extension request sent to CalPERS which is estimated to be less than one month as well as CalPERS approximate ownership interest in TPG Biotech III

Disclosed Campaign Gifts and

ContributionsNone

Notes None

Transaction Type Amendment

This information is provided directly from the Placement Agent Disclosure Form as submitted to CalPERS



Sheet1

Investment Proposal Activity (for the month ended June 30 2018)

Private Equity Forestland Infrastructure Real Estate Opportunistic Global Equities

Commodities Global Fixed Income

Total

Start of Month Proposals 12 2 12 12 0 5 0 0 43

New Proposals During the Month 7 3 2 1 1 6 0 0 20

Reinstated Proposals During Month 0 0 0 0 0 0 0 0 0

Decisions During the Month 9 0 3 0 0 5 0 0 17

End of Month Proposals 10 5 11 13 1 6 0 0 46

Status Details

Status Private Equity Forestland Infrastructure Real Estate Opportunistic Global Equities


Total

Submitted 1 1 4 2 0 1 0 0 9Screening 5 1 8 10 0 4 0 0 28Due Diligence 3 0 0 0 0 0 0 0 3Approved 3 0 0 0 0 0 0 0 3Subtotal 12 2 12 12 0 5 0 0 43

Subtotal 7 3 2 1 1 6 0 0 20

Reinstated Proposals During MonthSubtotal 0 0 0 0 0 0 0 0 0

Committed 3 0 0 0 0 0 0 0 3Declined 6 0 3 0 0 0 0 0 9Failed to Materialize 0 0 0 0 0 5 0 0 5Referred 0 0 0 0 0 0 0 0 0Subtotal 9 0 3 0 0 5 0 0 17

End of Month ProposalsSubmitted 3 4 1 0 1 0 0 0 9Screening 4 1 10 13 0 6 0 0 34Due Diligence 2 0 0 0 0 0 0 0 2Approved 1 0 0 0 0 0 0 0 1Subtotal 10 5 11 13 1 6 0 0 46

Start of Month Proposals for Real Estate (12) was revised downwards from May (13) due to a duplicate proposal

Decisions During the Month

Start of Month Proposals

New Proposals During the Month

Private Asset Classes Public Asset Classes



Sheet1

amp+Boldamp18ampK03+000The January Start of Month proposals for Private Equity was revised downwards from 17 to 16 due to duplicateoutdated proposals

Policy Exceptions (for the month ended June 30 2018)

Material Exceptions to PolicyAccording to policy requirements the following is a summary of investment policy exceptions as reported by the Investment Office program areas The following program areas had no exceptions to report for the month

o Global Equity

o Global Fixed Income

o Investment Manager Engagement Programs

o Investment Risk and Performance

o Investment Servicing Division

o Opportunistic Strategies

o Sustainable Investment Program

0123456

Number of Monthly Policy Exceptions

New Exceptions

Existing Exceptions




New

Program Area or Asset Class

Event Date Resolution Date

Policy Exception Description Event Description and Resolution (expected) or Next Steps

Private Equity 642018 8132018 Private Equity ProgramThe credit-related strategy allocation represented 971 of the Private Equity portfolio which is below the policy range of 10 to 25 for this strategy

The current allocation to credit related strategies has fallen below the Policy sub-asset-class allocation range of 10-25 This was a passive breach caused by new investments to other strategies in the PE program

Staff has proposed changes to the allocation range for credit-related strategies as part of a broader Private Equity Policy review The proposed change will move the range to 0-15 This revision will be presented for approval at the August 2018 Investment Committee meeting

Existing




Real Assets 112017 TBD Investment Policy for Real Assets Program

For the quarter ended December 2017 the ldquoCorerdquo risk classification represented 487 of the Forestland portfolio which is below the policy range of 75-100 for this risk classification of the Forestland portfolio

The new RA Policy went into effect 1117 New policy parameters included the consistent application of risk classifications geographic ranges and leverage limits across the Real Assets Program and to each of its constituent portfolios Given the illiquid nature of the RA portfolio staff anticipates a lag time to make the asset shifts required to bring the portfolio in line with the new strategic plan and policy along with the required updates to systems and processes as noted to the Investment Committee (IC) at the August 2016 IC meeting

The Core Forestland NAV has not been within the new RA Policy range since the date it took effect (1117) Data has been finalized through the quarter ended December 2017 and the policy exception still exists The timing of any resolution remains uncertain due to the illiquid nature of the Forestland investments



Sheet1






For the quarter ended December 2017 the ldquoValue-Addrdquo risk classification represented 371 of the Forestland portfolio which is above the policy range of 0-25 for this risk classification within the Forestland portfolio


The Value-Added Forestland NAV has not been within the new RA Policy range since the date it took effect (1117) Data has been finalized through the quarter ended December 2017 and the policy exception still exists The timing of any resolution remains uncertain due to the illiquid nature of the Forestland investments


For the quarter ended December 2017 DSCR for the Forestland portfolio was 069 which is below the minimum DSCR of 125 as required by the new RA Policy


The Forestland portfolio DSCR has not been within the new RA Policy range since the date it took effect (1117) Data has been finalized through the quarter ended December 2017 and the policy exception still exists The timing of any resolution remains uncertain due to the illiquid nature of the Forestland investments

Trust Level Portfolio Management 8172015 TBD

Total Fund Policy Asset Allocation Strategy section

The Total Fund Investment Policy requires forecasted and realized tracking error to be evaluated against one another over rolling three-year periods for each program and the Total Fund Staff has instead been evaluating tracking error over one- and five-year periods

The Policy requires staff to evaluate forecasted tracking errors and realized tracking errors over rolling three-year periods for each program area and the Total Fund Staffs current process is to review one- and five-year realized andor forecasted returns

Staff will be proposing updates to the Total Fund Investment Policy at a future date in order to sync up these activities with actual practice



Sheet1

Disclosure of Closed Session Action Items (for the month ended June 30 2018)

Investment Committee

Agenda Item Investment Committee Action

No items to report

Vote



Sheet1

Investment Transactions (for the month ended June 30 2018)

Public Equity Income Inflation ARS Liquidity TLPM

Beginning Market Value 173133565089 75697034482 20754664207 242941581 12958587897 3043642242+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)+ Unitized Fund Purchases - - - - - -- Unitized Fund Sales - - - - - -+- Other Changes in MV 4971912895 4870203531 888142950 (2245258) (1226131007) (1206622136)Ending Market Value 171825907281 79071780855 20814224848 240685176 11765710254 2832484312

Total Fund - Private MarketsPrivate Equity Real Estate Forestland Infrastructure

Beginning Market Value 27289616342 31251962079 1985868614 4265410899+ Contributions 425366431 409496859 - 8043405- Distributions (615387905) (280761997) (10328866) (72304328) + Unitized Fund Purchases - - - -- Unitized Fund Sales - - - -+- Other Changes in MV 51649655 408811526 - 132296019Ending Market Value 27151244523 31789508466 1975545602 4333445995

Total Public Markets Total Private Markets Total Fund

Beginning Market Value 285830435497 64792857934 350623293431+ Contributions 29331799225 842906695 30174705921- Distributions (36906702971) (978783096) (37885486066)+ Unitized Fund Purchases - - -- Unitized Fund Sales - - -+- Other Changes in MV 8295260974 592763053 8888024027Ending Market Value 286550792726 65249744586 351800537313Note Numbers will not tie exactly to the Asset AllocationPerformance categories due to classification differences

Total Fund - Public Markets



Sheet1

Spring-Fed Pool Contract Status (for the quarter ended June 30 2018)

The report details Letters of Engagements (LOE) by the Investment Office for spring-fed pool contracts Actual expenditures against the LOE amounts may be less but never greater than this amount unless agreed upon by CalPERS through an amended letter of engagement

Program Quarter Pool Name Consultant Start Date

End Date Project Name LOE Amount Expenditures(as of 3312018)

Balance(as of 3312018)

Selection Reason Notes

EXEC Q1General Investment Consulting

Services Spring-Fed PoolMeketa Investment Group Inc (Contract 2015-7616)

100117 063020CalPERS Board Infrastructure Investment

Consultant36300000$ 9075000$ 27225000$

Exempt-Board Approval



031617 063020CalPERS Board Private Equity Investment

Consultant190000000$ 58344080$ 131655920$



Services Spring-Fed Pool

Pension Consulting Alliance LLC

(Contract 2015-7609)070117 063018

2017-2018 Back-Up to the General Board Investment Consultant

15000000$ 11250000$ 3750000$ Exempt-One Contractor

Total for INVO Executive 241300000$ 78669080$ 162630920$

Global Equity Q1Specialty Investment Consulting

Services Spring-Fed PoolGarland Associates Inc (Contract 2015-7677)

032817 011518 2017 Proxy Solicitations 30400000$ 21700000$ 8700000$ Exempt-Known

Contractor


Services Spring-Fed PoolRVK Inc

(Contract 2015-7711)102416 063018

Product Review for Supplemental Income Plans (SIP)

21000000$ 19150000$ 1850000$ Exempt-Known

Contractor



032918 113018 2018 Proxy Solicitations 30000000$ 9100000$ 20900000$ Exempt-Critical

Timeframe Previous Entity

Total for Global Equity 81400000$ 49950000$ 31450000$ Investment

Compliance and Operational Risk

Q1Specialty Investment Consulting

Services Spring-Fed PoolCutter Associates LLC(Contract 2015-7682)

070117 022818Target Operating Model-Functional Risk

Review 201716800000$ 16345000$ 455000$

Exempt-One Contractor

Total for Investment Compliance and Operational Risk 16800000$ 16345000$ 455000$

Investment Manager

Engagement Program

Q1General Investment Consulting


Pacific Community Ventures Inc

(Contract 2015-7606)070117 063018 CalPERS for California FY 2017-2018 38340000$ 38340000$ -$


Investment Manager

Engagement Program

Q1Real Assets Investments

Consulting Services Spring-Fed Pool


(Contract 2014-7438)070117 6302018 Responsible Contractor Program Policy 10000000$ 2625000$ 7375000$


Total for Investment Manager Engagement Program 48340000$ 40965000$ 7375000$

Investment Servicing Division

Q1 IT Spring-Fed PoolMSys International Inc(Contract 2015-7977) 092617 103118

INVO Enhanced Management Reporting Development and Support (Resource 2)

20384100$ 13592700$ 6791400$ Best Practices (Bid

Request)


Q1 IT Spring-Fed PoolPersell Design Group LLC

(Contract 2015-7968063016 063018

Investment Portal Section 508 Accessibility Certification


Request)Investment

Servicing Division Q1 IT Spring-Fed Pool

ProPoint Technology Inc (Contract 2015-7874)

070116 083117Real Assets Strategic Plan AREIS Implementation and TMU Support


Request)Investment

Servicing Division Q1

Specialty Investment Consulting Services Spring-Fed Pool

ProPoint Technology Inc(Contract 2015-7700)

070117 063018 Investment Project Support 27216000$ 22761000$ 4455000$ Exempt-Known

Contractor



Sheet1







Q1 IT Spring-Fed PoolProPoint Technology Inc

(Contract2015-7874)101016 063018

Private Equity Accounting and Reporting Solution (PEARS) Project Manager

39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818

Private Equity Accounting and Reporting Solution (PEARS) Business Analyst


Request)



(Contract 2015-7874)110116 033118

Private Equity Accounting and Reporting Solution (PEARS) Maintenance and

Operations31250000$ 29002500$ 2247500$

Best Practices (Bid Request)



(Contract 2015-7874)013117 013118

INVO Artemis and Transitions Management Project

28173460$ 27055000$ 1118460$ Exempt-Known

ContractorInvestment



020217 063018Artemis Business Analysis and Project

Management Support36618260$ 34986000$ 1632260$




(Contract 2015-7874)070117 103118

INVO Salesforce User Interface Development and Support Senior Technical

Specialist25000000$ 14833800$ 10166200$

Exempt-Known Contractor



(Contract 2015-7874)070117 063018

INVO Salesforce Application Development and System Support

51000000$ 47425500$ 3574500$ Exempt-Known





091817 123118Collaboration Advisory and Business

Process Improvement Services3973200$ 847000$ 3126200$



Q1 IT Spring-Fed PoolPyramid Technical

Consultants Inc (Contract 2015-7862)

040717 123117Investment Technology Services-Public

Markets Investment Systems27167400$ 27167400$ -$



Q1 IT Spring-Fed PoolQualapps Inc

(Contract 2015-7855)032917 093017

INVO Business Relationship and Contract Management


Request)


Q1 IT Spring-Fed PoolRyedale Inc

(Contract 2015-7973)010416 063018

INVO Artemis and FourFactorReplicator Application Support

31518000$ 31218700$ 299300$


This LOE spans multiple FYs Expenditures are

for FY 1718 only



(Contract 2015-7973)010416 063018

Artemis GE Pilot and Transitions DevelopmentIntegration

124371600$ 123435600$ 936000$



for FY 1718 only Investment


SRI Infotech Inc (Contract 2015-7864)

010317 123117AREIS Maintenance amp Support St

Technical Specialist24144000$ 23748000$ 396000$



Q1 IT Spring-Fed PoolSRI Infotech Inc

(Contract 2015-7864)080817 063018


10100000$ 10100000$ -$ Best Practices (Bid

Request)


Q1 IT Spring-Fed PoolTechnology Crest

(Contract 2015-7858)070117 063018 Investment Technology Services 19800000$ 19770300$ 29700$



Q1 IT Spring-Fed PoolTrinity Technology Group Inc

(Contract 2015-7859)100316 123118 INVO SharePoint Architecture Support 37929600$ 32106000$ 5823600$




(Contract 2015-7700)101817 063018

Client Relationship Management and Cloud Platform Advisory and Process

Improvement Services7975000$ 7974971$ 029$




Sheet1






Real Assets Q1

Real Assets Investments Consulting Services

Spring-Fed Pool

Bard Consulting(Contract 2014-7427)

070117 063018CalPERS Domestic Strategic Portfolio

Performance Attribution 2017-20185000000$ -$ 5000000$


Real Assets Q1


Spring-Fed Pool


070117 063018 2017-18 Urban Multifamily IT 40000000$ 30693750$ 9306250$ Exempt - Known

Contractor

Real Assets Q1


Spring-Fed Pool


070117 063018 Quantitative Fee Analysis 20000000$ 6175000$ 13825000$ Exempt-One Contractor

Real Assets Q1


Spring-Fed Pool


070117 063018 Retail Mall Investment Portfolio 37500000$ 27946250$ 9553750$ Exempt-Critical Time

One Contractor

Real Assets Q1


Spring-Fed Pool

Courtland Partners Ltd(Contract 2014-7432)

062717 093017 Project Enel CR 2500000$ 2500000$ -$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool


090117 092917 Blackstone Property Partners Europe 2500000$ 2500000$ -$ Best Practices (Bid

Request)

Real Assets Q1


Spring-Fed Pool

Crosswater Realty Advisors LLC

(Contract 2014-7431)070117 063018

International Real Assets Account FY 2017-2018

20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)071917 063018 Canyon Catalyst Fund 1000000$ 807500$ 192500$


Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018

Forestland Investment Portfolio Retail and Real Estate

35000000$ 19999375$ 15000625$ Exempt-Critical Time

One Contractor

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)091917 063018 Class A Multifamily Manager Evaluation 9700000$ 6299375$ 3400625$


Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)091717 063018 TPG Hospitality Fund IV 6000000$ 5983125$ 16875$


Real Assets Q1


Newport Board Group LLC (Contract 2015-7697)

062217 063018 Center Point Board Governance 1156000$ 1127100$ 28900$ Best Practices (Bid

Request)

Real Assets Q1


Spring-Fed Pool

Pavilion Alternatives Group LLC (formerly LP Capital

Advisors LLC)(Contract 2014-7435))

070117 063018 2017-2018 Infrastructure Program Support 13382500$ 3750750$ 9631750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool

RCLCO Inc(Contract 2014-7440)

081117 013118 Project Affordable Part 2 1650000$ 1059750$ 590250$ Exempt-One Contractor

Real Assets Q2


BDO USA LLP (Contract 2014-7276)

100117 063017 Project CHHC 2016 Tax Returns 500000$ 500000$ -$ Exempt-Known

Contractor

Real Assets Q2


Spring-Fed Pool


111317 063018 Sacramento Venture and Randolph PPO 1000000$ 1000000$ -$ Exempt-Critical Time

One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool


102017 123117 Imperial Highway 500000$ 500000$ -$ Exempt-Critical Time

One Contractor

Real Assets Q2



101117 063018 Real Estate Energy Optimization 7500000$ 7490650$ 9350$ Exempt-One Contractor

Real Assets Q2

Office of Audit Services Spring-Fed Pool

Cohn Reznick (Contract2017-8316)

110718 063018Tech Core Annual Cash Yield Incentive

Distribution Data Input Verification Review600000$ 600000$ -$

Best Practice (Bid Request)

Real Assets Q2


KPM 2017-8313)

121317 063018GRI-Annual Base Project Incentive

Distribution Input Verification1619900$ 1613950$ 5950$


Real Assets Q2


KPM 2017-8313)

121317 063018IMP-Annual Base Project Incentive



Real Assets Q2 ESPD Spring-Fed Pool

Ernst amp Young (Contract 2014-7592)

121417 063018 Project Wings II 60800000$ 16500000$ 44300000$ Exempt-Critical Time

One Contractor

Real Assets Q3


Spring-Fed Pool


012218 063018 301 Capitol Mall 1000000$ 1000000$ -$ Exempt-Extreme

Sensitive

Real Assets Q3

General Investment Consulting Services Spring-Fed Pool

Mercer Investment Consulting Inc (Contract

2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool


033018 063018 Annual Investment Plan Review 2018-2019 2 6800000$ 6800000$ -$ Best Practice (Bid

Request)

Real Assets Q3


Spring-Fed Pool


032718 063018 Annual Investment Plan Review 2018-2019 3 6000000$ 4487300$ 1512700$ Best Practice (Bid

Request)

Real Assets Q3


Spring-Fed Pool


2015-7612)031618 063018 Project Wings III 10000000$ -$ 10000000$

Exempt-Critical Time One Contractor

Real Assets Q3


Spring-Fed Pool


031218 063018 Project SP Solar 2500000$ 2500000$ -$ Exempt-Known

Contractor

Real Assets Q4


KPM (Contract 2017-8313) 040118 063018ORI-Incentive Distribution Data Input

Verification1909200$ 1909000$ 200$


Real Assets Q4



2015-7612)041318 063018 Annual Investment Plan Review 2018-2019 1 1900000$ 1900000$

Exempt-Critical Timeframe One

ContractorTotal for Real Assets 310770400$ 155052425$ 155717975$

Sustainable Investments


Services Spring-Fed PoolWilcox Miller amp Nelson

(Contract 2015-7679)110217 063018

2017-2018 Diverse Director DataSource (3D) Enhancement Project

10000000$ 9000000$ 1000000$ Exempt-Known

Contractor

Total for Sustainable Investments 10000000$ 9000000$ 1000000$



Sheet1






Trust Level Portfolio

Management (TLPM)


Services Spring-Fed PoolEdHec Risk Consulting

(Contract 2015-8057)060217 073117 EDHEC July 2017 Board Off-Site Services 2000000$ 2000000$ -$



Management (TLPM)


Services Spring-Fed PoolPension Consulting Alliance LLC (Contract 2015-7609)

070117 063018 2017-2018 Portfolio Priorities 8500000$ -$ 8500000$ Exempt-Known

Contractor


Management (TLPM)



Northfield Information Systems (Contract 2015-

7276)110117 063018 Private Asset Overlay Replication Analysis 7500000$ 3750000$ 3750000$


Total for Trust Level Portfolio Management

18000000$ 5750000$ 12250000$

Grand Total Investment Office 1787845420$ 1045440376$ 742405044$



Sheet1

Investment Policy Administrative Changes (for the quarter ended June 30 2018)

Review Date Policy Policy Category CommentsNo items to report



Sheet1

External Investment Resource Conflict of Interest Disclosures (for the fiscal year ended June 30 2018)

External Investment Resource Filer Date Received Disclosure Summary Action TakenNo items to report



Sheet1

Slide Number 1

CalPERS Monthly Update ndash Investment ComplianceFor the month ended June 30 2018

















External Investment Resource Filer Date Received Disclosure Summary Action Taken

No items to report

Review Date Policy Policy Category Comments

No items to report

Program Quarter Pool Name Consultant Start Date End Date Project Name LOE Amount Expenditures(as of 3312018) Balance(as of 3312018) Selection Reason Notes

EXEC Q1 General Investment Consulting Services Spring-Fed Pool Meketa Investment Group Inc (Contract 2015-7616) 100117 063020 CalPERS Board Infrastructure Investment Consultant $ 36300000 $ 9075000 $ 27225000 Exempt-Board Approval

EXEC Q1 General Investment Consulting Services Spring-Fed Pool Meketa Investment Group Inc (Contract 2015-7616) 031617 063020 CalPERS Board Private Equity Investment Consultant $ 190000000 $ 58344080 $ 131655920 Exempt-Board Approval

EXEC Q1 General Investment Consulting Services Spring-Fed Pool Pension Consulting Alliance LLC(Contract 2015-7609) 070117 063018 2017-2018 Back-Up to the General Board Investment Consultant $ 15000000 $ 11250000 $ 3750000 Exempt-One Contractor

Total for INVO Executive $ 241300000 $ 78669080 $ 162630920

Global Equity Q1 Specialty Investment Consulting Services Spring-Fed Pool Garland Associates Inc (Contract 2015-7677) 032817 011518 2017 Proxy Solicitations $ 30400000 $ 21700000 $ 8700000 Exempt-Known Contractor

Global Equity Q1 Specialty Investment Consulting Services Spring-Fed Pool RVK Inc(Contract 2015-7711) 102416 063018 Product Review for Supplemental Income Plans (SIP) $ 21000000 $ 19150000 $ 1850000 Exempt-Known Contractor

Global Equity Q3 Specialty Investment Consulting Services Spring-Fed Pool Garland Associates Inc (Contract 2015-7677) 032918 113018 2018 Proxy Solicitations $ 30000000 $ 9100000 $ 20900000 Exempt-Critical Timeframe Previous Entity

Total for Global Equity $ 81400000 $ 49950000 $ 31450000

Investment Compliance and Operational Risk Q1 Specialty Investment Consulting Services Spring-Fed Pool Cutter Associates LLC(Contract 2015-7682) 070117 022818 Target Operating Model-Functional Risk Review 2017 $ 16800000 $ 16345000 $ 455000 Exempt-One Contractor

Total for Investment Compliance and Operational Risk $ 16800000 $ 16345000 $ 455000

Investment Manager Engagement Program Q1 General Investment Consulting Services Spring-Fed Pool Pacific Community Ventures Inc(Contract 2015-7606) 070117 063018 CalPERS for California FY 2017-2018 $ 38340000 $ 38340000 $ - 0 Exempt-One Contractor

Investment Manager Engagement Program Q1 Real Assets Investments Consulting Services Spring-Fed Pool Pension Consulting Alliance LLC(Contract 2014-7438) 070117 63018 Responsible Contractor Program Policy $ 10000000 $ 2625000 $ 7375000 Exempt-One Contractor

Total for Investment Manager Engagement Program $ 48340000 $ 40965000 $ 7375000

Investment Servicing Division Q1 IT Spring-Fed Pool MSys International Inc(Contract 2015-7977) 092617 103118 INVO Enhanced Management Reporting Development and Support (Resource 2) $ 20384100 $ 13592700 $ 6791400 Best Practices (Bid Request)

Investment Servicing Division Q1 IT Spring-Fed Pool Persell Design Group LLC(Contract 2015-7968 063016 063018 Investment Portal Section 508 Accessibility Certification $ 4600000 $ 1035000 $ 3565000 Best Practices (Bid Request)

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7874) 070116 083117 Real Assets Strategic Plan AREIS Implementation and TMU Support $ 27000000 $ 24792750 $ 2207250 Best Practices (Bid Request)

Investment Servicing Division Q1 Specialty Investment Consulting Services Spring-Fed Pool ProPoint Technology Inc(Contract 2015-7700) 070117 063018 Investment Project Support $ 27216000 $ 22761000 $ 4455000 Exempt-Known Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract2015-7874) 101016 063018 Private Equity Accounting and Reporting Solution (PEARS) Project Manager $ 39000000 $ 39000000 $ - 0 Exempt-Known Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7874) 110116 022818 Private Equity Accounting and Reporting Solution (PEARS) Business Analyst $ 31250000 $ 31243750 $ 6250 Best Practices (Bid Request)

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7874) 110116 033118 Private Equity Accounting and Reporting Solution (PEARS) Maintenance and Operations $ 31250000 $ 29002500 $ 2247500 Best Practices (Bid Request)

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7874) 013117 013118 INVO Artemis and Transitions Management Project $ 28173460 $ 27055000 $ 1118460 Exempt-Known Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7874) 020217 063018 Artemis Business Analysis and Project Management Support $ 36618260 $ 34986000 $ 1632260 Best Practices (Bid Request)

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7874) 070117 103118 INVO Salesforce User Interface Development and Support Senior Technical Specialist $ 25000000 $ 14833800 $ 10166200 Exempt-Known Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7874) 070117 063018 INVO Salesforce Application Development and System Support $ 51000000 $ 47425500 $ 3574500 Exempt-Known Contractor

Investment Servicing Division Q1 Specialty Investment Consulting Services Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7700) 091817 123118 Collaboration Advisory and Business Process Improvement Services $ 3973200 $ 847000 $ 3126200 Exempt-Known Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool Pyramid Technical Consultants Inc (Contract 2015-7862) 040717 123117 Investment Technology Services-Public Markets Investment Systems $ 27167400 $ 27167400 $ - 0 Exempt-Known Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool Qualapps Inc (Contract 2015-7855) 032917 093017 INVO Business Relationship and Contract Management $ 19500000 $ 11125000 $ 8375000 Best Practices (Bid Request)

Investment Servicing Division Q1 IT Spring-Fed Pool Ryedale Inc(Contract 2015-7973) 010416 063018 INVO Artemis and FourFactorReplicator Application Support $ 31518000 $ 31218700 $ 299300 Best Practices (Bid Request) This LOE spans multiple FYs Expenditures are for FY 1718 only

Investment Servicing Division Q1 IT Spring-Fed Pool Ryedale Inc(Contract 2015-7973) 010416 063018 Artemis GE Pilot and Transitions DevelopmentIntegration $ 124371600 $ 123435600 $ 936000 Best Practices (Bid Request) This LOE spans multiple FYs Expenditures are for FY 1718 only

Investment Servicing Division Q1 IT Spring-Fed Pool SRI Infotech Inc (Contract 2015-7864) 010317 123117 AREIS Maintenance amp Support St Technical Specialist $ 24144000 $ 23748000 $ 396000 Exempt-One Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool SRI Infotech Inc (Contract 2015-7864) 080817 063018 INVO Enhanced Management Reporting Development and Support (Resource 1) $ 10100000 $ 10100000 $ - 0 Best Practices (Bid Request)

Investment Servicing Division Q1 IT Spring-Fed Pool Technology Crest(Contract 2015-7858) 070117 063018 Investment Technology Services $ 19800000 $ 19770300 $ 29700 Exempt-Known Contractor

Investment Servicing Division Q1 IT Spring-Fed Pool Trinity Technology Group Inc (Contract 2015-7859) 100316 123118 INVO SharePoint Architecture Support $ 37929600 $ 32106000 $ 5823600 Best Practices (Bid Request)

Investment Servicing Division Q2 IT Spring-Fed Pool ProPoint Technology Inc (Contract 2015-7700) 101817 063018 Client Relationship Management and Cloud Platform Advisory and Process Improvement Services $ 7975000 $ 7974971 $ 029 Exempt-One Contractor

Investment Servicing Division Q2 IT Spring-Fed Pool Persell Design Group LLC(Contract 2015-7968 121517 063019 Section 508 Compliance Readiness Assessment $ 13524000 $ 1104000 $ 12420000 Exempt-Known Contractor

Investment Servicing Division Q2 IT Spring-Fed Pool Pyramid Technical Consultants Inc (Contract 2015-7862) 120517 123118 Investment Technology Services-Public Markets $ 29576400 $ 13685700 $ 15890700 Best Practice (Bid Request)

Investment Servicing Division Q3 IT Spring-Fed Pool SRI Infotech Inc (Contract 2015-7864) 010118 123118 AREIS Maintenance amp Support $ 24144000 $ 11820000 $ 12324000 Exempt-One Contractor

Investment Servicing Division Q3 Specialty Investment Consulting Services Spring Fed Pool ProPoint Technology Inc (Contract 2015-7700) 022718 063019 Mitsubishi Financial Group (MUFG) Business Analyst $ 31250000 $ 5900000 $ 25350000 Best Practice (Bid Request)

Investment Servicing Division Q3 IT Spring-Fed Pool Ryedale Inc(Contract 2015-7973) 030718 063019 Ryedale Platform (Artemis) Enhancements and Advisory Services $ 55488000 $ 2602575 $ 52885425 Exempt-One Contractor

Investment Servicing Division Q3 Specialty Investment Consulting Services Spring Fed Pool ProPoint Technology Inc (Contract 2015-7700) 031218 063019 INVO Data Strategy $ 30000000 $ 5593750 $ 24406250 Best Practice (Bid Request)

Investment Servicing Division Q4 Specialty Investment Consulting Services Spring Fed Pool ProPoint Technology Inc (Contract 2015-7700) 050418 063019 CRMPCP Advisory and Process Improvement 2 $ 25500000 $ 2336250 $ 23163750 Best Practice (Bid Request)

Investment Servicing Division Q4 Speciality Investment Consulting Services Spring Fed Pool ProPoint Technology Inc (Contract 2015-7700) 050418 063019 Artemis Transition to Maintenance amp Operations and Public Markets Coordination Project $ 29400000 $ 1876000 $ 27524000 Best Practice (Bid Request)

Investment Servicing Division Q4 Specialty Investment Consulting Services Spring Fed Pool ProPoint Technology Inc (Contract 2015-7700) 051418 063019 Investment Project Support $ 27216000 $ - 0 $ 27216000 Best Practice (Bid Request)

Investment Servicing Division Q4 Specialty Investment Consulting Services Spring Fed Pool ProPoint Technology Inc (Contract 2015-7700) 051518 063019 Mitsubishi Financial Group (MUFG) Project Manager $ 27216000 $ 1319625 $ 25896375 Best Practice (Bid Request)

Total for Investment Servicing Division $ 921285020 $ 619458871 $ 301826149

Opportunistic Strategies Q1 General Investment Consulting Services Spring-Fed Pool Mosaic Investment Advisors Inc (Contract 2015-7614) 030317 022818 Global Equity Brokerage Services $ 45950000 $ 25250000 $ 20700000 Exempt-Known Contractor

Opportunistic Strategies Q4 General Investment Consulting Services Spring-Fed Pool Mosaic Investment Advisors Inc (Contract 2015-7614) 041118 041019 Equity Brokerage Services $ 20000000 $ - 0 $ 20000000 Exempt-Known Contractor

Total for Opportunistic Strategies $ 65950000 $ 25250000 $ 40700000

Private Equity Q1 Specialty Investment Consulting Services Spring Fed Pool FTI Consulting Ltd (Contract 2015-7686) 030817 123117 Tax Withholding Recovery Project $ 20000000 $ - 0 $ 20000000 Exempt-Critical Time One Contractor

Private Equity Q1 General Investment Consulting Services Spring-Fed Pool Hamilton Lane Consulting (Contract 2015-7623) 030117 083117 PE Review List of 30 $ 25000000 $ 25000000 $ - 0 Exempt-Critical Time One Contractor

Private Equity Q1 Specialty Investment Consulting Services Spring-Fed Pool Pacific Alternative Asset Management Co (Contract 2015-7702) 102416 103117 ARS Fund Administration 2016-17 $ 20000000 $ 20000000 $ - 0 Exempt-One Contractor

Private Equity Q4 General Investment Consulting Services Spring-Fed Pool Pavilion Alternatives Group Limited (Contract 2015-7604) 041118 063018 Due Diligence with Prudent Person Opinion for Co-Investment alongside TPG Asia VII and TGP Capital VIII $ 4500000 $ 4500000 Exempt-One Contractor

Private Equity Q4 General Investment Consulting Services Spring-Fed Pool Pavilion Alternatives Group Limited (Contract 2015-7604) 053118 103118 Due Diligence with Prudent Person Opinion focused on Emergencying Manager Separately Managed Account $ 4500000 $ - 0 $ 4500000 Best Practice (Bid Request)

Total for Private Equity $ 74000000 $ 45000000 $ 29000000

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Bard Consulting(Contract 2014-7427) 070117 063018 CalPERS Domestic Strategic Portfolio Performance Attribution 2017-2018 $ 5000000 $ - 0 $ 5000000 Exempt-Known Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Bard Consulting(Contract 2014-7427) 070117 063018 2017-18 Urban Multifamily IT $ 40000000 $ 30693750 $ 9306250 Exempt - Known Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Bard Consulting(Contract 2014-7427) 070117 063018 Quantitative Fee Analysis $ 20000000 $ 6175000 $ 13825000 Exempt-One Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Bard Consulting(Contract 2014-7427) 070117 063018 Retail Mall Investment Portfolio $ 37500000 $ 27946250 $ 9553750 Exempt-Critical Time One Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Courtland Partners Ltd(Contract 2014-7432) 062717 093017 Project Enel CR $ 2500000 $ 2500000 $ - 0 Exempt-Known Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Courtland Partners Ltd(Contract 2014-7432) 090117 092917 Blackstone Property Partners Europe $ 2500000 $ 2500000 $ - 0 Best Practices (Bid Request)

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Crosswater Realty Advisors LLC(Contract 2014-7431) 070117 063018 International Real Assets Account FY 2017-2018 $ 20000000 $ 61250 $ 19938750 Exempt-Known Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Crosswater Realty Advisors LLC(Contract 2014-7431) 071917 063018 Canyon Catalyst Fund $ 1000000 $ 807500 $ 192500 Exempt-Known Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Crosswater Realty Advisors LLC(Contract 2014-7431) 081717 063018 Forestland Investment Portfolio Retail and Real Estate $ 35000000 $ 19999375 $ 15000625 Exempt-Critical Time One Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Crosswater Realty Advisors LLC(Contract 2014-7431) 091917 063018 Class A Multifamily Manager Evaluation $ 9700000 $ 6299375 $ 3400625 Best Practices (Bid Request)

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Crosswater Realty Advisors LLC(Contract 2014-7431) 091717 063018 TPG Hospitality Fund IV $ 6000000 $ 5983125 $ 16875 Exempt-One Contractor

Real Assets Q1 Specialty Investment Consulting Services Spring-Fed Pool Newport Board Group LLC (Contract 2015-7697) 062217 063018 Center Point Board Governance $ 1156000 $ 1127100 $ 28900 Best Practices (Bid Request)

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool Pavilion Alternatives Group LLC (formerly LP Capital Advisors LLC)(Contract 2014-7435)) 070117 063018 2017-2018 Infrastructure Program Support $ 13382500 $ 3750750 $ 9631750 Exempt-Known Contractor

Real Assets Q1 Real Assets Investments Consulting Services Spring-Fed Pool RCLCO Inc(Contract 2014-7440) 081117 013118 Project Affordable Part 2 $ 1650000 $ 1059750 $ 590250 Exempt-One Contractor

Real Assets Q2 Specialty Investment Consulting Services Spring-Fed Pool BDO USA LLP (Contract 2014-7276) 100117 063017 Project CHHC 2016 Tax Returns $ 500000 $ 500000 $ - 0 Exempt-Known Contractor

Real Assets Q2 Real Assets Investments Consulting Services Spring-Fed Pool Courtland Partners Ltd(Contract 2014-7432) 111317 063018 Sacramento Venture and Randolph PPO $ 1000000 $ 1000000 $ - 0 Exempt-Critical Time One Contractor

Real Assets Q2 Real Assets Investments Consulting Services Spring-Fed Pool Courtland Partners Ltd(Contract 2014-7432) 102017 123117 Imperial Highway $ 500000 $ 500000 $ - 0 Exempt-Critical Time One Contractor

Real Assets Q2 Specialty Investment Consulting Services Spring-Fed Pool Newport Board Group LLC (Contract 2015-7697) 101117 063018 Real Estate Energy Optimization $ 7500000 $ 7490650 $ 9350 Exempt-One Contractor

Real Assets Q2 Office of Audit Services Spring-Fed Pool Cohn Reznick (Contract2017-8316) 110718 063018 Tech Core Annual Cash Yield Incentive Distribution Data Input Verification Review $ 600000 $ 600000 $ - 0 Best Practice (Bid Request)

Real Assets Q2 Office of Audit Services Spring-Fed Pool KPM (Contract 2017-8313) 121317 063018 GRI-Annual Base Project Incentive Distribution Input Verification $ 1619900 $ 1613950 $ 5950 Best Practice (Bid Request)

Real Assets Q2 Office of Audit Services Spring-Fed Pool KPM (Contract 2017-8313) 121317 063018 IMP-Annual Base Project Incentive Distribution Input Verification $ 1252800 $ 1248300 $ 4500 Best Practice (Bid Request)

Real Assets Q2 ESPD Spring-Fed Pool Ernst amp Young (Contract 2014-7592) 121417 063018 Project Wings II $ 60800000 $ 16500000 $ 44300000 Exempt-Critical Time One Contractor

Real Assets Q3 Real Assets Investments Consulting Services Spring-Fed Pool RCLCO Inc(Contract 2014-7440) 012218 063018 301 Capitol Mall $ 1000000 $ 1000000 $ - 0 Exempt-Extreme Sensitive

Real Assets Q3 General Investment Consulting Services Spring-Fed Pool Mercer Investment Consulting Inc (Contract 2015-7612) 012218 063018 Project Bridge $ 11500000 $ - 0 $ 11500000 Best Practice (Bid Request)

Real Assets Q3 Real Assets Investments Consulting Services Spring-Fed Pool Bard Consulting(Contract 2014-7427) 033018 063018 Annual Investment Plan Review 2018-2019 2 $ 6800000 $ 6800000 $ - 0 Best Practice (Bid Request)

Real Assets Q3 Real Assets Investments Consulting Services Spring-Fed Pool RCLCO Inc(Contract 2014-7440) 032718 063018 Annual Investment Plan Review 2018-2019 3 $ 6000000 $ 4487300 $ 1512700 Best Practice (Bid Request)

Real Assets Q3 Real Assets Investments Consulting Services Spring-Fed Pool Mercer Investment Consulting Inc (Contract 2015-7612) 031618 063018 Project Wings III $ 10000000 $ - 0 $ 10000000 Exempt-Critical Time One Contractor

Real Assets Q3 Real Assets Investments Consulting Services Spring-Fed Pool Courtland Partners Ltd(Contract 2014-7432) 031218 063018 Project SP Solar $ 2500000 $ 2500000 $ - 0 Exempt-Known Contractor

Real Assets Q4 Office of Audit Services Spring-Fed Pool KPM (Contract 2017-8313) 040118 063018 ORI-Incentive Distribution Data Input Verification $ 1909200 $ 1909000 $ 200 Best Practice (Bid Request)

Real Assets Q4 General Investment Consulting Services Spring-Fed Pool Mercer Investment Consulting Inc (Contract 2015-7612) 041318 063018 Annual Investment Plan Review 2018-2019 1 $ 1900000 $ 1900000 Exempt-Critical Timeframe One Contractor

Total for Real Assets $ 310770400 $ 155052425 $ 155717975

Sustainable Investments Q2 Specialty Investment Consulting Services Spring-Fed Pool Wilcox Miller amp Nelson (Contract 2015-7679) 110217 063018 2017-2018 Diverse Director DataSource (3D) Enhancement Project $ 10000000 $ 9000000 $ 1000000 Exempt-Known Contractor

Total for Sustainable Investments $ 10000000 $ 9000000 $ 1000000

Trust Level Portfolio Management (TLPM) Q1 General Investment Consulting Services Spring-Fed Pool EdHec Risk Consulting(Contract 2015-8057) 060217 073117 EDHEC July 2017 Board Off-Site Services $ 2000000 $ 2000000 $ - 0 Exempt-Critical Time One Contractor

Trust Level Portfolio Management (TLPM) Q1 General Investment Consulting Services Spring-Fed Pool Pension Consulting Alliance LLC (Contract 2015-7609) 070117 063018 2017-2018 Portfolio Priorities $ 8500000 $ - 0 $ 8500000 Exempt-Known Contractor

Trust Level Portfolio Management (TLPM) Q2 General Investment Consulting Services Spring-Fed Pool Northfield Information Systems (Contract 2015-7276) 110117 063018 Private Asset Overlay Replication Analysis $ 7500000 $ 3750000 $ 3750000 Best Practice (Bid Request)

Total for Trust Level Portfolio Management $ 18000000 $ 5750000 $ 12250000

Grand Total Investment Office $ 1787845420 $ 1045440376 $ 742405044























































































































































































































































































































































































Beginning Market Value 173133565089 75697034482 20754664207 242941581 12958587897 3043642242

+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)

+ Unitized Fund Purchases - - - - - -

- Unitized Fund Sales - - - - - -

+- Other Changes in MV 4971912895 4870203531 888142950 (2245258) (1226131007) (1206622136)

Ending Market Value 171825907281 79071780855 20814224848 240685176 11765710254 2832484312

Total Fund - Private Markets

Private Equity Real Estate Forestland Infrastructure

Beginning Market Value 27289616342 31251962079 1985868614 4265410899

+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)

+ Unitized Fund Purchases - - - -

- Unitized Fund Sales - - - -

+- Other Changes in MV 51649655 408811526 - 132296019

Ending Market Value 27151244523 31789508466 1975545602 4333445995


Beginning Market Value 285830435497 64792857934 350623293431

+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)

+ Unitized Fund Purchases - - -

- Unitized Fund Sales - - -

+- Other Changes in MV 8295260974 592763053 8888024027

Ending Market Value 286550792726 65249744586 351800537313

Note Numbers will not tie exactly to the Asset AllocationPerformance categories due to classification differences

Investment CommitteeMeeting Date Agenda Item Investment Committee Action Vote

No items to report

Investment Committee Meeting Date Agenda Item Investment Committee Action Vote

May 14 2018 Item 5a Private Equity Follow up on Alternative Business Models ActionApproved to move forward with development of the materials the modeling release this item in a limited scope as a full release would impair CalPERS investment objectives and bring it back as an item for June An electronic roll-call vote was taken The motion passedSummary of DebateAn extensive discussion was conducted on moving forward with the alternative business model and releasing the item in June in a limited scope to not impair the Systemrsquos investment and management objectives Roll call vote results are listed below

Committee Member Vote

Danny Brown YES

Margaret Brown YES

Richard Costigan YES

Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New

Program Area or Asset Class Event Date Resolution Date Policy Exception Description Event Description and Resolution (expected) or Next Steps

No items to report

Existing


Investment Servicing Division Investment Risk and Performance 81516 21218 Total Fund Investment Policy Plan Level amp Asset Class Transition Portfolios Section The Plan Level amp Asset Class Transition Portfolios section of the Total Fund Investment Policy requires that staff report on the usage of transition portfolios no less than annuallyAnnual reporting on the usage of transition portfolios was last presented at the Investment Committee meeting on August 17 2015 Policy testing of the Total Fund Investment Policy identified that the usage of transition portfolios was last reported in the ldquoCalPERS Trust Level Review Trust Summaryrdquo at the Investment Committee meeting on August 17 2015 The lapse in annual reporting was due to an organizational update that resulted in a change of responsibilitiesStaff will report the latest usage of the Plan Level amp Asset Class Transition Portfolios dating from the last report through the current period at the Investment Committee meeting to be held on February 12 2018 Additionally as part of the upcoming review of the Total Fund Investment Policy staff will review the Policy and bring forward any proposed changes (including responsible parties and reporting requirements)

Real Assets 1117 TBD Investment Policy for Real Assets Program For the beginning of the Q2rsquo17 reporting period the ldquoCorerdquo risk classification represented 451 of the Forestland portfolio which is below the policy range of 75-100 for this risk classification of the Forestland portfolio The new RA Policy went into effect 1117 New policy parameters included the consistent application of risk classifications geographic ranges and leverage limits across the Real Assets Program and to each of its constituent portfolios Given the illiquid nature of the RA portfolio staff anticipates a lag time to make the asset shifts required to bring the portfolio in line with the new strategic plan and policy along with the required updates to systems and processes as noted to the Investment Committee (IC) at the August 2016 IC meeting The Core Forestland NAV has not been within the new RA Policy range since the date it took effect (1117) Data has been finalized for 93017 and the policy exception still exists The timing of any resolution remains uncertain due to the illiquid nature of the Forestland investments

Real Assets 1117 TBD Investment Policy for Real Assets Program For the quarter ended December 2017 the ldquoValue-Addrdquo risk classification represented 371 of the Forestland portfolio which is above the policy range of 0-25 for this risk classification within the Forestland portfolio The new RA Policy went into effect 1117 New policy parameters included the consistent application of risk classifications geographic ranges and leverage limits across the Real Assets Program and to each of its constituent portfolios Given the illiquid nature of the RA portfolio staff anticipates a lag time to make the asset shifts required to bring the portfolio in line with the new strategic plan and policy along with the required updates to systems and processes as noted to the Investment Committee (IC) at the August 2016 IC meeting The Value-Added Forestland NAV has not been within the new RA Policy range since the date it took effect (1117) Data has been finalized through the quarter ended December 2017 and the policy exception still exists The timing of any resolution remains uncertain due to the illiquid nature of the Forestland investments

Real Assets 1117 TBD Investment Policy for Real Assets Program For the quarter ended December 2017 DSCR for the Forestland portfolio was 069 which is below the minimum DSCR of 125 as required by the new RA Policy The new RA Policy went into effect 1117 New policy parameters included the consistent application of risk classifications geographic ranges and leverage limits across the Real Assets Program and to each of its constituent portfolios Given the illiquid nature of the RA portfolio staff anticipates a lag time to make the asset shifts required to bring the portfolio in line with the new strategic plan and policy along with the required updates to systems and processes as noted to the Investment Committee (IC) at the August 2016 IC meeting The Forestland portfolio DSCR has not been within the new RA Policy range since the date it took effect (1117) Data has been finalized through the quarter ended December 2017 and the policy exception still exists The timing of any resolution remains uncertain due to the illiquid nature of the Forestland investments

Trust Level Portfolio Management 81715 TBD Total Fund Policy Asset Allocation Strategy section The Total Fund Investment Policy requires forecasted and realized tracking error to be evaluated against one another over rolling three-year periods for each program and the Total Fund Staff has instead been evaluating tracking error over one- and five-year periods The Policy requires staff to evaluate forecasted tracking errors and realized tracking errors over rolling three-year periods for each program area and the Total Fund Staffs current process is to review one- and five-year realized andor forecasted returns Staff will be proposing updates to the Total Fund Investment Policy at a future date in order to sync up these activities with actual practice

New


Private Equity 6418 81318 Private Equity Program The credit-related strategy allocation represented 971 of the Private Equity portfolio which is below the policy range of 10 to 25 for this strategy The current allocation to credit related strategies has fallen below the Policy sub-asset-class allocation range of 10-25 This was a passive breach caused by new investments to other strategies in the PE programStaff has proposed changes to the allocation range for credit-related strategies as part of a broader Private Equity Policy review The proposed change will move the range to 0-15 This revision will be presented for approval at the August 2018 Investment Committee meeting

Existing


Real Assets 1117 TBD Investment Policy for Real Assets Program For the quarter ended December 2017 the ldquoCorerdquo risk classification represented 487 of the Forestland portfolio which is below the policy range of 75-100 for this risk classification of the Forestland portfolio The new RA Policy went into effect 1117 New policy parameters included the consistent application of risk classifications geographic ranges and leverage limits across the Real Assets Program and to each of its constituent portfolios Given the illiquid nature of the RA portfolio staff anticipates a lag time to make the asset shifts required to bring the portfolio in line with the new strategic plan and policy along with the required updates to systems and processes as noted to the Investment Committee (IC) at the August 2016 IC meeting The Core Forestland NAV has not been within the new RA Policy range since the date it took effect (1117) Data has been finalized through the quarter ended December 2017 and the policy exception still exists The timing of any resolution remains uncertain due to the illiquid nature of the Forestland investments

Private Equity Forestland Infrastructure Real Estate Opportunistic Global Equities Commodities Global Fixed Income Total






Status Details


Status Private Equity Forestland Infrastructure Real Estate Opportunistic Global Equities Commodities Global Fixed Income Total


Submitted 1 1 4 2 0 1 0 0 9

Screening 5 1 8 10 0 4 0 0 28

Due Diligence 3 0 0 0 0 0 0 0 3

Approved 3 0 0 0 0 0 0 0 3

Subtotal 12 2 12 12 0 5 0 0 43


Subtotal 7 3 2 1 1 6 0 0 20

Reinstated Proposals During Month

Subtotal 0 0 0 0 0 0 0 0 0


Committed 3 0 0 0 0 0 0 0 3

Declined 6 0 3 0 0 0 0 0 9

Failed to Materialize 0 0 0 0 0 5 0 0 5

Referred 0 0 0 0 0 0 0 0 0

Subtotal 9 0 3 0 0 5 0 0 17

End of Month Proposals

Submitted 3 4 1 0 1 0 0 0 9

Screening 4 1 10 13 0 6 0 0 34

Due Diligence 2 0 0 0 0 0 0 0 2

Approved 1 0 0 0 0 0 0 0 1

Subtotal 10 5 11 13 1 6 0 0 46




Fund TPG Partners VIII LP

Placement Agent Firm Jack Weingart Partner of TPGJames Gates Partner of TPGCharles Froeb Partner of TPGCatie Barile Associate at TPGAlastair Bushby Principal at TPGJames Callinan Employee of TPGJosh Evans Employee of TPG Griffin Howard Employee of TPGCharlie Madden Analyst at TPGEmily Powers Analyst at TPGCatherine Quinn Associate at TPGAlex Schwartz Vice President at TPGJennifer Shah Employee at TPGGrant Sutton Associate at TPGAndrew Tirbeni Vice President at TPG


Registered with US or non-US financial regulatory authority TPGs broker-dealer affiliate TPG Capital BD LLC (TPG BD) regularly solicits investors for investment funds sponsored by TPG TPG BD is registered with the US Securities and Exchange Commission and is a FINRA member (CRD No 0143876) Certain employees of TPG Funding LLC or an affiliate thereof (collectively TPG Funding) serve as registered representatives (TPG BD Representatives) of TPG BD

Registered Lobbyist(s) Mr Weingart is a registered lobbyist in the State of CaliforniaMr Gates is a registered lobbyist in the State of CaliforniaMr Froeb is a registered lobbyist in the State of California New York City Los Angeles San Diego and San JoseMs Barile is a registered lobbyist in the State of CaliforniaMr Bushby is registered lobbyist in the State of CaliforniaMr Callinan is a registered lobbyist in the State of CaliforniaMr Evans is a registered lobbyist in the State of California and San JoseMr Howard is registered lobbyist in the State of CaliforniaMr Madden is a registered lobbyist in the State of CaliforniaMr Powers is a registered lobbyist in the State of CaliforniaMs Quinn is a registered lobbyist in the State of CaliforniaMr Schwartz is a registered lobbyist in the State of CaliforniaMs Shah is a registered lobbyist in the State of CaliforniaMr Sutton is a registered lobbyist in the State of CaliforniaMr Tirbeni is a registered lobbyist in the State of California

Estimated Placement Agent Compensation TPG Biotechnology GenPar III LP and its affiliates have not engaged compensated or agreed to compensate directly or indirectly any third-party placement agent in connection with the offer of assets securities or services to CalPERS or any CalPERS vehicle The Placement Agents listed above are employees of TPG Funding LLC or an affiliate of TPG Funding LLC and are paid an annual base salary plus a discretionary bonus for their activities as representatives of TPG Capital BD LLC which is not contingent upon the offer of assets securities or services to CalPERS on behalf of TPG Biotechnology Partners III LP Although the Placement Agents receive their compensation from TPG Funding LLC or an affiliate of TPG Funding LLC the Placement Agents are registered representatives of TPG Capital BD LLC an affiliate of TPG Funding LLC and a member of FINRA (CRD No 0143876) The approximate compensation of the employees of TPG Funding LLC or an affiliate of TPG Funding LLC who offered interest in TPG Biotechnology Partners III LP is roughly estimated at $16000 for one month although such compensation was not based directly on the amount of the CalPERS Commitment The compensation is an estimate based on the approximate time and attention spent by the Placement Agents for the TPG Biotech III extension request sent to CalPERS which is estimated to be less than one month as well as CalPERS approximate ownership interest in TPG Biotech III

Disclosed Campaign Gifts and Contributions None

Notes None






Placement Agent Firm Jack Weingart Partner of TPGJames Gates Partner of TPGCharles Froeb Partner of TPGCatie Barile Employee of TPGAlastair Bushby Employee of TPGJames Callinan Employee of TPGJosh Evans Employee of TPGGriffan Howard Employee of TPGCharlie Madden Employee of TPGEmily Powers - Employee of TPGCatherine Quinn Employee of TPGAlex Schwartz Employee of TPGJennifer Shah Employee of TPGGrant Sutton Employee of TPGAndrew Tirbeni Employee of TPG



Registered Lobbyist(s) Mr Weingart is a registered lobbyist in the State of CaliforniaMr Gates is a registered lobbyist in the State of CaliforniaMr Froeb is a registered lobbyist in the State of California New York City Los Angeles San Diego and San JoseMs Barile is a registered lobbyist in the State of CaliforniaMr Bushby is a registered lobbyist in the State of CaliforniaMr Callinan is a registered lobbyist in the State of CaliforniaMr Evans is a registered lobbyist in the State of California and San JoseMr Howard is a registered lobbyist in the State of CaliforniaMr Madden is a registered lobbyist in the State of CaliforniaMs Powers is a registered lobbyist in the State of CaliforniaMs Quinn is a registered lobbyist in the State of CaliforniaMr Schwartz is a registered lobbyist in the State of CaliforniaMs Shah is a registered lobbyist in the State of CaliforniaMr Sutton is a registered lobbyist in the State of CaliforniaMr Tirbeni is a registered lobbyist in the State of California



Notes None



Program Area Name of Investment Commitment (million) Initial Funding Date Complies with Delegation Number





CalPERS Monthly Update ndash Investment Compliance

For the month ended June 30 2018

Items Completed Under Delegated Authority

Disclosure of Placement Agent Fees

Investment Proposal Activity

Policy Exceptions

Disclosure of Closed Session Action Items

Investment Transactions

Spring-Fed Pool Contract Status

Investment Policy Administrative Change

External Investment Resource Conflict of Interest Disclosures







Number







Sheet1















Sheet1






ContributionsNone

Notes None





Sheet1




Total






Status Details



Total


Subtotal 7 3 2 1 1 6 0 0 20











Sheet1




o Global Equity







0123456


New Exceptions

Existing Exceptions




New







Existing










Sheet1




















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing







New



Existing









Status Details




Submitted 1 1 4 2 0 1 0 0 9

Screening 5 1 8 10 0 4 0 0 28

Due Diligence 3 0 0 0 0 0 0 0 3

Approved 3 0 0 0 0 0 0 0 3

Subtotal 12 2 12 12 0 5 0 0 43


Subtotal 7 3 2 1 1 6 0 0 20


Subtotal 0 0 0 0 0 0 0 0 0


Committed 3 0 0 0 0 0 0 0 3

Declined 6 0 3 0 0 0 0 0 9


Referred 0 0 0 0 0 0 0 0 0

Subtotal 9 0 3 0 0 5 0 0 17


Submitted 3 4 1 0 1 0 0 0 9

Screening 4 1 10 13 0 6 0 0 34

Due Diligence 2 0 0 0 0 0 0 0 2

Approved 1 0 0 0 0 0 0 0 1

Subtotal 10 5 11 13 1 6 0 0 46











Notes None












Notes None












Number







Sheet1















Sheet1






ContributionsNone

Notes None





Sheet1




Total






Status Details



Total


Subtotal 7 3 2 1 1 6 0 0 20











Sheet1




o Global Equity







0123456


New Exceptions

Existing Exceptions




New







Existing










Sheet1




















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing







New



Existing









Status Details




Submitted 1 1 4 2 0 1 0 0 9

Screening 5 1 8 10 0 4 0 0 28

Due Diligence 3 0 0 0 0 0 0 0 3

Approved 3 0 0 0 0 0 0 0 3

Subtotal 12 2 12 12 0 5 0 0 43


Subtotal 7 3 2 1 1 6 0 0 20


Subtotal 0 0 0 0 0 0 0 0 0


Committed 3 0 0 0 0 0 0 0 3

Declined 6 0 3 0 0 0 0 0 9


Referred 0 0 0 0 0 0 0 0 0

Subtotal 9 0 3 0 0 5 0 0 17


Submitted 3 4 1 0 1 0 0 0 9

Screening 4 1 10 13 0 6 0 0 34

Due Diligence 2 0 0 0 0 0 0 0 2

Approved 1 0 0 0 0 0 0 0 1

Subtotal 10 5 11 13 1 6 0 0 46











Notes None












Notes None






















Sheet1






ContributionsNone

Notes None





Sheet1




Total






Status Details



Total


Subtotal 7 3 2 1 1 6 0 0 20











Sheet1




o Global Equity







0123456


New Exceptions

Existing Exceptions




New







Existing










Sheet1




















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing







New



Existing









Status Details




Submitted 1 1 4 2 0 1 0 0 9

Screening 5 1 8 10 0 4 0 0 28

Due Diligence 3 0 0 0 0 0 0 0 3

Approved 3 0 0 0 0 0 0 0 3

Subtotal 12 2 12 12 0 5 0 0 43


Subtotal 7 3 2 1 1 6 0 0 20


Subtotal 0 0 0 0 0 0 0 0 0


Committed 3 0 0 0 0 0 0 0 3

Declined 6 0 3 0 0 0 0 0 9


Referred 0 0 0 0 0 0 0 0 0

Subtotal 9 0 3 0 0 5 0 0 17


Submitted 3 4 1 0 1 0 0 0 9

Screening 4 1 10 13 0 6 0 0 34

Due Diligence 2 0 0 0 0 0 0 0 2

Approved 1 0 0 0 0 0 0 0 1

Subtotal 10 5 11 13 1 6 0 0 46











Notes None












Notes None








ContributionsNone

Notes None





Sheet1




Total






Status Details



Total


Subtotal 7 3 2 1 1 6 0 0 20











Sheet1




o Global Equity







0123456


New Exceptions

Existing Exceptions




New







Existing










Sheet1




















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing







New



Existing









Status Details




Submitted 1 1 4 2 0 1 0 0 9

Screening 5 1 8 10 0 4 0 0 28

Due Diligence 3 0 0 0 0 0 0 0 3

Approved 3 0 0 0 0 0 0 0 3

Subtotal 12 2 12 12 0 5 0 0 43


Subtotal 7 3 2 1 1 6 0 0 20


Subtotal 0 0 0 0 0 0 0 0 0


Committed 3 0 0 0 0 0 0 0 3

Declined 6 0 3 0 0 0 0 0 9


Referred 0 0 0 0 0 0 0 0 0

Subtotal 9 0 3 0 0 5 0 0 17


Submitted 3 4 1 0 1 0 0 0 9

Screening 4 1 10 13 0 6 0 0 34

Due Diligence 2 0 0 0 0 0 0 0 2

Approved 1 0 0 0 0 0 0 0 1

Subtotal 10 5 11 13 1 6 0 0 46











Notes None






Total






Status Details



Total


Subtotal 7 3 2 1 1 6 0 0 20











Sheet1




o Global Equity







0123456


New Exceptions

Existing Exceptions




New







Existing










Sheet1




















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing







New



Existing









Status Details




Submitted 1 1 4 2 0 1 0 0 9

Screening 5 1 8 10 0 4 0 0 28

Due Diligence 3 0 0 0 0 0 0 0 3

Approved 3 0 0 0 0 0 0 0 3

Subtotal 12 2 12 12 0 5 0 0 43


Subtotal 7 3 2 1 1 6 0 0 20


Subtotal 0 0 0 0 0 0 0 0 0


Committed 3 0 0 0 0 0 0 0 3

Declined 6 0 3 0 0 0 0 0 9


Referred 0 0 0 0 0 0 0 0 0

Subtotal 9 0 3 0 0 5 0 0 17


Submitted 3 4 1 0 1 0 0 0 9

Screening 4 1 10 13 0 6 0 0 34

Due Diligence 2 0 0 0 0 0 0 0 2

Approved 1 0 0 0 0 0 0 0 1

Subtotal 10 5 11 13 1 6 0 0 46




o Global Equity







0123456


New Exceptions

Existing Exceptions




New







Existing










Sheet1




















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing







New



Existing




New







Existing










Sheet1




















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing







New



Existing






















Sheet1




No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES

New


No items to report

Existing










No items to report

Vote



Sheet1











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)







No items to report




Danny Brown YES

Margaret Brown YES


Rob Feckner YES

Dana Hollinger YES

Steve Juarez YES

Priya Mathur YES

David Miller YES

Ramon Rubalcava YES

Bill Slaton YES

Theresa Taylor YES

Betty Yee YES











Sheet1










Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report





















































































































































































































































































































































































































































































+ Purchases 18410537137 4344454957 3484472641 - 1457249335 1635085156

- Sales (24690107839) (5839912115) (4313054950) (11147) (1423995971) (639620949)








+ Contributions 425366431 409496859 - 8043405

- Distributions (615387905) (280761997) (10328866) (72304328)







+ Contributions 29331799225 842906695 30174705921

- Distributions (36906702971) (978783096) (37885486066)















Consultant36300000$ 9075000$ 27225000$





Consultant190000000$ 58344080$ 131655920$





(Contract 2015-7609)070117 063018







Contractor



(Contract 2015-7711)102416 063018


21000000$ 19150000$ 1850000$ Exempt-Known

Contractor










Review 201716800000$ 16345000$ 455000$



Investment Manager

Engagement Program






Investment Manager

Engagement Program











Request)



(Contract 2015-7968063016 063018



Request)Investment





Request)Investment





Contractor



Sheet1








(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



One Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool




Real Assets Q1




Request)

Real Assets Q1


Spring-Fed Pool




Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




Contractor

Real Assets Q2


Spring-Fed Pool



One Contractor



Sheet1






Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool



Request)

Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


10000000$ 9000000$ 1000000$ Exempt-Known

Contractor




Sheet1







Management (TLPM)






Management (TLPM)




Contractor


Management (TLPM)







18000000$ 5750000$ 12250000$




Sheet1





Sheet1





Sheet1

Slide Number 1



















No items to report


No items to report

























































































































































































































































































































































































































































































(Contract2015-7874)101016 063018


39000000$ 39000000$ -$ Exempt-Known

Contractor



(Contract 2015-7874)110116 022818



Request)



(Contract 2015-7874)110116 033118


Operations31250000$ 29002500$ 2247500$




(Contract 2015-7874)013117 013118


28173460$ 27055000$ 1118460$ Exempt-Known









(Contract 2015-7874)070117 103118


Specialist25000000$ 14833800$ 10166200$




(Contract 2015-7874)070117 063018


51000000$ 47425500$ 3574500$ Exempt-Known
















(Contract 2015-7855)032917 093017



Request)



(Contract 2015-7973)010416 063018


31518000$ 31218700$ 299300$



for FY 1718 only



(Contract 2015-7973)010416 063018


124371600$ 123435600$ 936000$











(Contract 2015-7864)080817 063018



Request)











(Contract 2015-7700)101817 063018






Sheet1






Real Assets Q1


Spring-Fed Pool





Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q1


Spring-Fed Pool



One Contractor

Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


Spring-Fed Pool



Request)

Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

Contractor

Real Assets Q1


Spring-Fed Pool




Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



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Real Assets Q1


Spring-Fed Pool




Real Assets Q1


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Real Assets Q1


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Contractor

Real Assets Q1


Spring-Fed Pool



Real Assets Q2




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Real Assets Q2


Spring-Fed Pool



One Contractor



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Real Assets Q2


Spring-Fed Pool



One Contractor

Real Assets Q2




Real Assets Q2






Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


Spring-Fed Pool



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Real Assets Q3


Spring-Fed Pool



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Real Assets Q3


Spring-Fed Pool




Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


Real Assets Q4









(Contract 2015-7679)110217 063018


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Real Assets Q1


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Real Assets Q1


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Real Assets Q1


Spring-Fed Pool



Contractor

Real Assets Q1


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Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)070117 063018


20000000$ 61250$ 19938750$ Exempt-Known

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Real Assets Q1


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Real Assets Q1


Spring-Fed Pool


(Contract 2014-7431)081717 063018



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Real Assets Q1


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Real Assets Q1


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Real Assets Q1


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Real Assets Q2


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Real Assets Q2


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Real Assets Q2




Real Assets Q2






Real Assets Q2


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Real Assets Q2


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One Contractor

Real Assets Q3


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Real Assets Q3



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Real Assets Q3


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Real Assets Q3


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Real Assets Q3


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Real Assets Q3


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Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


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(Contract 2015-7679)110217 063018


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Real Assets Q2


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Real Assets Q2




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Real Assets Q2


KPM 2017-8313)




Real Assets Q2


KPM 2017-8313)







One Contractor

Real Assets Q3


Spring-Fed Pool



Sensitive

Real Assets Q3



2015-7612)012218 063018 Project Bridge 11500000$ -$ 11500000$


Real Assets Q3


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Real Assets Q3


Spring-Fed Pool



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Real Assets Q3


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Real Assets Q3


Spring-Fed Pool



Contractor

Real Assets Q4



Verification1909200$ 1909000$ 200$


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(Contract 2015-7679)110217 063018


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Management (TLPM)






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No items to report

External Investment Resource Filer	Date Received	Disclosure Summary	Action Taken

No items to report

Program	Quarter	Pool Name	Consultant	Start Date	End Date	Project Name	LOE Amount	Expenditures(as of 3312018)		Balance(as of 3312018)		Selection Reason Notes

EXEC	Q1	General Investment Consulting Services Spring-Fed Pool	Meketa Investment Group Inc (Contract 2015-7616)	100117	063020	CalPERS Board Infrastructure Investment Consultant	$ 36300000	$ 9075000		$ 27225000		Exempt-Board Approval

EXEC	Q1	General Investment Consulting Services Spring-Fed Pool	Meketa Investment Group Inc (Contract 2015-7616)	031617	063020	CalPERS Board Private Equity Investment Consultant	$ 190000000	$ 58344080		$ 131655920		Exempt-Board Approval

EXEC	Q1	General Investment Consulting Services Spring-Fed Pool	Pension Consulting Alliance LLC(Contract 2015-7609)	070117	063018	2017-2018 Back-Up to the General Board Investment Consultant	$ 15000000	$ 11250000		$ 3750000		Exempt-One Contractor

			Total for INVO Executive	$ 241300000	$ 78669080	$ 162630920

Global Equity	Q1	Specialty Investment Consulting Services Spring-Fed Pool	Garland Associates Inc (Contract 2015-7677)	032817	011518	2017 Proxy Solicitations	$ 30400000	$ 21700000		$ 8700000		Exempt-Known Contractor

Global Equity	Q1	Specialty Investment Consulting Services Spring-Fed Pool	RVK Inc(Contract 2015-7711)	102416	063018	Product Review for Supplemental Income Plans (SIP)	$ 21000000	$ 19150000		$ 1850000		Exempt-Known Contractor

Global Equity	Q3	Specialty Investment Consulting Services Spring-Fed Pool	Garland Associates Inc (Contract 2015-7677)	032918	113018	2018 Proxy Solicitations	$ 30000000	$ 9100000		$ 20900000		Exempt-Critical Timeframe Previous Entity

			Total for Global Equity	$ 81400000	$ 49950000	$ 31450000

Investment Compliance and Operational Risk	Q1	Specialty Investment Consulting Services Spring-Fed Pool	Cutter Associates LLC(Contract 2015-7682)	070117	022818	Target Operating Model-Functional Risk Review 2017	$ 16800000	$ 16345000		$ 455000		Exempt-One Contractor

			Total for Investment Compliance and Operational Risk	$ 16800000	$ 16345000	$ 455000

Investment Manager Engagement Program	Q1	General Investment Consulting Services Spring-Fed Pool	Pacific Community Ventures Inc(Contract 2015-7606)	070117	063018	CalPERS for California FY 2017-2018	$ 38340000	$ 38340000		$ - 0		Exempt-One Contractor

Investment Manager Engagement Program	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Pension Consulting Alliance LLC(Contract 2014-7438)	070117	63018	Responsible Contractor Program Policy	$ 10000000	$ 2625000		$ 7375000		Exempt-One Contractor

			Total for Investment Manager Engagement Program	$ 48340000	$ 40965000	$ 7375000

Investment Servicing Division	Q1	IT Spring-Fed Pool	MSys International Inc(Contract 2015-7977)	092617	103118	INVO Enhanced Management Reporting Development and Support (Resource 2)	$ 20384100	$ 13592700		$ 6791400		Best Practices (Bid Request)

Investment Servicing Division	Q1	IT Spring-Fed Pool	Persell Design Group LLC(Contract 2015-7968	063016	063018	Investment Portal Section 508 Accessibility Certification	$ 4600000	$ 1035000		$ 3565000		Best Practices (Bid Request)

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7874)	070116	083117	Real Assets Strategic Plan AREIS Implementation and TMU Support	$ 27000000	$ 24792750		$ 2207250		Best Practices (Bid Request)

Investment Servicing Division	Q1	Specialty Investment Consulting Services Spring-Fed Pool	ProPoint Technology Inc(Contract 2015-7700)	070117	063018	Investment Project Support	$ 27216000	$ 22761000		$ 4455000		Exempt-Known Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract2015-7874)	101016	063018	Private Equity Accounting and Reporting Solution (PEARS) Project Manager	$ 39000000	$ 39000000		$ - 0		Exempt-Known Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7874)	110116	022818	Private Equity Accounting and Reporting Solution (PEARS) Business Analyst	$ 31250000	$ 31243750		$ 6250		Best Practices (Bid Request)

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7874)	110116	033118	Private Equity Accounting and Reporting Solution (PEARS) Maintenance and Operations	$ 31250000	$ 29002500		$ 2247500		Best Practices (Bid Request)

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7874)	013117	013118	INVO Artemis and Transitions Management Project	$ 28173460	$ 27055000		$ 1118460		Exempt-Known Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7874)	020217	063018	Artemis Business Analysis and Project Management Support	$ 36618260	$ 34986000		$ 1632260		Best Practices (Bid Request)

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7874)	070117	103118	INVO Salesforce User Interface Development and Support Senior Technical Specialist	$ 25000000	$ 14833800		$ 10166200		Exempt-Known Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7874)	070117	063018	INVO Salesforce Application Development and System Support	$ 51000000	$ 47425500		$ 3574500		Exempt-Known Contractor

Investment Servicing Division	Q1	Specialty Investment Consulting Services Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	091817	123118	Collaboration Advisory and Business Process Improvement Services	$ 3973200	$ 847000		$ 3126200		Exempt-Known Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	Pyramid Technical Consultants Inc (Contract 2015-7862)	040717	123117	Investment Technology Services-Public Markets Investment Systems	$ 27167400	$ 27167400		$ - 0		Exempt-Known Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	Qualapps Inc (Contract 2015-7855)	032917	093017	INVO Business Relationship and Contract Management	$ 19500000	$ 11125000		$ 8375000		Best Practices (Bid Request)

Investment Servicing Division	Q1	IT Spring-Fed Pool	Ryedale Inc(Contract 2015-7973)	010416	063018	INVO Artemis and FourFactorReplicator Application Support	$ 31518000	$ 31218700		$ 299300		Best Practices (Bid Request) This LOE spans multiple FYs Expenditures are for FY 1718 only

Investment Servicing Division	Q1	IT Spring-Fed Pool	Ryedale Inc(Contract 2015-7973)	010416	063018	Artemis GE Pilot and Transitions DevelopmentIntegration	$ 124371600	$ 123435600		$ 936000		Best Practices (Bid Request) This LOE spans multiple FYs Expenditures are for FY 1718 only

Investment Servicing Division	Q1	IT Spring-Fed Pool	SRI Infotech Inc (Contract 2015-7864)	010317	123117	AREIS Maintenance amp Support St Technical Specialist	$ 24144000	$ 23748000		$ 396000		Exempt-One Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	SRI Infotech Inc (Contract 2015-7864)	080817	063018	INVO Enhanced Management Reporting Development and Support (Resource 1)	$ 10100000	$ 10100000		$ - 0		Best Practices (Bid Request)

Investment Servicing Division	Q1	IT Spring-Fed Pool	Technology Crest(Contract 2015-7858)	070117	063018	Investment Technology Services	$ 19800000	$ 19770300		$ 29700		Exempt-Known Contractor

Investment Servicing Division	Q1	IT Spring-Fed Pool	Trinity Technology Group Inc (Contract 2015-7859)	100316	123118	INVO SharePoint Architecture Support	$ 37929600	$ 32106000		$ 5823600		Best Practices (Bid Request)

Investment Servicing Division	Q2	IT Spring-Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	101817	063018	Client Relationship Management and Cloud Platform Advisory and Process Improvement Services	$ 7975000	$ 7974971		$ 029		Exempt-One Contractor

Investment Servicing Division	Q2	IT Spring-Fed Pool	Persell Design Group LLC(Contract 2015-7968	121517	063019	Section 508 Compliance Readiness Assessment	$ 13524000	$ 1104000		$ 12420000		Exempt-Known Contractor

Investment Servicing Division	Q2	IT Spring-Fed Pool	Pyramid Technical Consultants Inc (Contract 2015-7862)	120517	123118	Investment Technology Services-Public Markets	$ 29576400	$ 13685700		$ 15890700		Best Practice (Bid Request)

Investment Servicing Division	Q3	IT Spring-Fed Pool	SRI Infotech Inc (Contract 2015-7864)	010118	123118	AREIS Maintenance amp Support	$ 24144000	$ 11820000		$ 12324000		Exempt-One Contractor

Investment Servicing Division	Q3	Specialty Investment Consulting Services Spring Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	022718	063019	Mitsubishi Financial Group (MUFG) Business Analyst	$ 31250000	$ 5900000		$ 25350000		Best Practice (Bid Request)

Investment Servicing Division	Q3	IT Spring-Fed Pool	Ryedale Inc(Contract 2015-7973)	030718	063019	Ryedale Platform (Artemis) Enhancements and Advisory Services	$ 55488000	$ 2602575		$ 52885425		Exempt-One Contractor

Investment Servicing Division	Q3	Specialty Investment Consulting Services Spring Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	031218	063019	INVO Data Strategy	$ 30000000	$ 5593750		$ 24406250		Best Practice (Bid Request)

Investment Servicing Division	Q4	Specialty Investment Consulting Services Spring Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	050418	063019	CRMPCP Advisory and Process Improvement 2	$ 25500000	$ 2336250		$ 23163750		Best Practice (Bid Request)

Investment Servicing Division	Q4	Speciality Investment Consulting Services Spring Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	050418	063019	Artemis Transition to Maintenance amp Operations and Public Markets Coordination Project	$ 29400000	$ 1876000		$ 27524000		Best Practice (Bid Request)

Investment Servicing Division	Q4	Specialty Investment Consulting Services Spring Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	051418	063019	Investment Project Support	$ 27216000	$ - 0		$ 27216000		Best Practice (Bid Request)

Investment Servicing Division	Q4	Specialty Investment Consulting Services Spring Fed Pool	ProPoint Technology Inc (Contract 2015-7700)	051518	063019	Mitsubishi Financial Group (MUFG) Project Manager	$ 27216000	$ 1319625		$ 25896375		Best Practice (Bid Request)

			Total for Investment Servicing Division	$ 921285020	$ 619458871	$ 301826149

Opportunistic Strategies	Q1	General Investment Consulting Services Spring-Fed Pool	Mosaic Investment Advisors Inc (Contract 2015-7614)	030317	022818	Global Equity Brokerage Services	$ 45950000	$ 25250000		$ 20700000		Exempt-Known Contractor

Opportunistic Strategies	Q4	General Investment Consulting Services Spring-Fed Pool	Mosaic Investment Advisors Inc (Contract 2015-7614)	041118	041019	Equity Brokerage Services	$ 20000000	$ - 0		$ 20000000		Exempt-Known Contractor

			Total for Opportunistic Strategies	$ 65950000	$ 25250000	$ 40700000

Private Equity	Q1	Specialty Investment Consulting Services Spring Fed Pool	FTI Consulting Ltd (Contract 2015-7686)	030817	123117	Tax Withholding Recovery Project	$ 20000000	$ - 0		$ 20000000		Exempt-Critical Time One Contractor

Private Equity	Q1	General Investment Consulting Services Spring-Fed Pool	Hamilton Lane Consulting (Contract 2015-7623)	030117	083117	PE Review List of 30	$ 25000000	$ 25000000		$ - 0		Exempt-Critical Time One Contractor

Private Equity	Q1	Specialty Investment Consulting Services Spring-Fed Pool	Pacific Alternative Asset Management Co (Contract 2015-7702)	102416	103117	ARS Fund Administration 2016-17	$ 20000000	$ 20000000		$ - 0		Exempt-One Contractor

Private Equity	Q4	General Investment Consulting Services Spring-Fed Pool	Pavilion Alternatives Group Limited (Contract 2015-7604)	041118	063018	Due Diligence with Prudent Person Opinion for Co-Investment alongside TPG Asia VII and TGP Capital VIII	$ 4500000		$ 4500000		Exempt-One Contractor

Private Equity	Q4	General Investment Consulting Services Spring-Fed Pool	Pavilion Alternatives Group Limited (Contract 2015-7604)	053118	103118	Due Diligence with Prudent Person Opinion focused on Emergencying Manager Separately Managed Account	$ 4500000	$ - 0		$ 4500000		Best Practice (Bid Request)

			Total for Private Equity	$ 74000000	$ 45000000	$ 29000000

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Bard Consulting(Contract 2014-7427)	070117	063018	CalPERS Domestic Strategic Portfolio Performance Attribution 2017-2018	$ 5000000	$ - 0		$ 5000000		Exempt-Known Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Bard Consulting(Contract 2014-7427)	070117	063018	2017-18 Urban Multifamily IT	$ 40000000	$ 30693750		$ 9306250		Exempt - Known Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Bard Consulting(Contract 2014-7427)	070117	063018	Quantitative Fee Analysis	$ 20000000	$ 6175000		$ 13825000		Exempt-One Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Bard Consulting(Contract 2014-7427)	070117	063018	Retail Mall Investment Portfolio	$ 37500000	$ 27946250		$ 9553750		Exempt-Critical Time One Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Courtland Partners Ltd(Contract 2014-7432)	062717	093017	Project Enel CR	$ 2500000	$ 2500000		$ - 0		Exempt-Known Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Courtland Partners Ltd(Contract 2014-7432)	090117	092917	Blackstone Property Partners Europe	$ 2500000	$ 2500000		$ - 0		Best Practices (Bid Request)

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Crosswater Realty Advisors LLC(Contract 2014-7431)	070117	063018	International Real Assets Account FY 2017-2018	$ 20000000	$ 61250		$ 19938750		Exempt-Known Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Crosswater Realty Advisors LLC(Contract 2014-7431)	071917	063018	Canyon Catalyst Fund	$ 1000000	$ 807500		$ 192500		Exempt-Known Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Crosswater Realty Advisors LLC(Contract 2014-7431)	081717	063018	Forestland Investment Portfolio Retail and Real Estate	$ 35000000	$ 19999375		$ 15000625		Exempt-Critical Time One Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Crosswater Realty Advisors LLC(Contract 2014-7431)	091917	063018	Class A Multifamily Manager Evaluation	$ 9700000	$ 6299375		$ 3400625		Best Practices (Bid Request)

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Crosswater Realty Advisors LLC(Contract 2014-7431)	091717	063018	TPG Hospitality Fund IV	$ 6000000	$ 5983125		$ 16875		Exempt-One Contractor

Real Assets	Q1	Specialty Investment Consulting Services Spring-Fed Pool	Newport Board Group LLC (Contract 2015-7697)	062217	063018	Center Point Board Governance	$ 1156000	$ 1127100		$ 28900		Best Practices (Bid Request)

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	Pavilion Alternatives Group LLC (formerly LP Capital Advisors LLC)(Contract 2014-7435))	070117	063018	2017-2018 Infrastructure Program Support	$ 13382500	$ 3750750		$ 9631750		Exempt-Known Contractor

Real Assets	Q1	Real Assets Investments Consulting Services Spring-Fed Pool	RCLCO Inc(Contract 2014-7440)	081117	013118	Project Affordable Part 2	$ 1650000	$ 1059750		$ 590250		Exempt-One Contractor

Real Assets	Q2	Specialty Investment Consulting Services Spring-Fed Pool	BDO USA LLP (Contract 2014-7276)	100117	063017	Project CHHC 2016 Tax Returns	$ 500000	$ 500000		$ - 0		Exempt-Known Contractor

Real Assets	Q2	Real Assets Investments Consulting Services Spring-Fed Pool	Courtland Partners Ltd(Contract 2014-7432)	111317	063018	Sacramento Venture and Randolph PPO	$ 1000000	$ 1000000		$ - 0		Exempt-Critical Time One Contractor

Real Assets	Q2	Real Assets Investments Consulting Services Spring-Fed Pool	Courtland Partners Ltd(Contract 2014-7432)	102017	123117	Imperial Highway	$ 500000	$ 500000		$ - 0		Exempt-Critical Time One Contractor

Real Assets	Q2	Specialty Investment Consulting Services Spring-Fed Pool	Newport Board Group LLC (Contract 2015-7697)	101117	063018	Real Estate Energy Optimization	$ 7500000	$ 7490650		$ 9350		Exempt-One Contractor

Real Assets	Q2	Office of Audit Services Spring-Fed Pool	Cohn Reznick (Contract2017-8316)	110718	063018	Tech Core Annual Cash Yield Incentive Distribution Data Input Verification Review	$ 600000	$ 600000		$ - 0		Best Practice (Bid Request)

Real Assets	Q2	Office of Audit Services Spring-Fed Pool	KPM (Contract 2017-8313)	121317	063018	GRI-Annual Base Project Incentive Distribution Input Verification	$ 1619900	$ 1613950		$ 5950		Best Practice (Bid Request)

Real Assets	Q2	Office of Audit Services Spring-Fed Pool	KPM (Contract 2017-8313)	121317	063018	IMP-Annual Base Project Incentive Distribution Input Verification	$ 1252800	$ 1248300		$ 4500		Best Practice (Bid Request)

Real Assets	Q2	ESPD Spring-Fed Pool	Ernst amp Young (Contract 2014-7592)	121417	063018	Project Wings II	$ 60800000	$ 16500000		$ 44300000		Exempt-Critical Time One Contractor

Real Assets	Q3	Real Assets Investments Consulting Services Spring-Fed Pool	RCLCO Inc(Contract 2014-7440)	012218	063018	301 Capitol Mall	$ 1000000	$ 1000000		$ - 0		Exempt-Extreme Sensitive

Real Assets	Q3	General Investment Consulting Services Spring-Fed Pool	Mercer Investment Consulting Inc (Contract 2015-7612)	012218	063018	Project Bridge	$ 11500000	$ - 0		$ 11500000		Best Practice (Bid Request)

Real Assets	Q3	Real Assets Investments Consulting Services Spring-Fed Pool	Bard Consulting(Contract 2014-7427)	033018	063018	Annual Investment Plan Review 2018-2019 2	$ 6800000	$ 6800000		$ - 0		Best Practice (Bid Request)

Real Assets	Q3	Real Assets Investments Consulting Services Spring-Fed Pool	RCLCO Inc(Contract 2014-7440)	032718	063018	Annual Investment Plan Review 2018-2019 3	$ 6000000	$ 4487300		$ 1512700		Best Practice (Bid Request)

Real Assets	Q3	Real Assets Investments Consulting Services Spring-Fed Pool	Mercer Investment Consulting Inc (Contract 2015-7612)	031618	063018	Project Wings III	$ 10000000	$ - 0		$ 10000000		Exempt-Critical Time One Contractor

Real Assets	Q3	Real Assets Investments Consulting Services Spring-Fed Pool	Courtland Partners Ltd(Contract 2014-7432)	031218	063018	Project SP Solar	$ 2500000	$ 2500000		$ - 0		Exempt-Known Contractor

Real Assets	Q4	Office of Audit Services Spring-Fed Pool	KPM (Contract 2017-8313)	040118	063018	ORI-Incentive Distribution Data Input Verification	$ 1909200	$ 1909000		$ 200		Best Practice (Bid Request)

Real Assets	Q4	General Investment Consulting Services Spring-Fed Pool	Mercer Investment Consulting Inc (Contract 2015-7612)	041318	063018	Annual Investment Plan Review 2018-2019 1	$ 1900000		$ 1900000		Exempt-Critical Timeframe One Contractor

			Total for Real Assets	$ 310770400	$ 155052425	$ 155717975

Sustainable Investments	Q2	Specialty Investment Consulting Services Spring-Fed Pool	Wilcox Miller amp Nelson (Contract 2015-7679)	110217	063018	2017-2018 Diverse Director DataSource (3D) Enhancement Project	$ 10000000	$ 9000000		$ 1000000		Exempt-Known Contractor

			Total for Sustainable Investments	$ 10000000	$ 9000000	$ 1000000

Trust Level Portfolio Management (TLPM)	Q1	General Investment Consulting Services Spring-Fed Pool	EdHec Risk Consulting(Contract 2015-8057)	060217	073117	EDHEC July 2017 Board Off-Site Services	$ 2000000	$ 2000000		$ - 0		Exempt-Critical Time One Contractor

Trust Level Portfolio Management (TLPM)	Q1	General Investment Consulting Services Spring-Fed Pool	Pension Consulting Alliance LLC (Contract 2015-7609)	070117	063018	2017-2018 Portfolio Priorities	$ 8500000	$ - 0		$ 8500000		Exempt-Known Contractor

Trust Level Portfolio Management (TLPM)	Q2	General Investment Consulting Services Spring-Fed Pool	Northfield Information Systems (Contract 2015-7276)	110117	063018	Private Asset Overlay Replication Analysis	$ 7500000	$ 3750000		$ 3750000		Best Practice (Bid Request)

			Total for Trust Level Portfolio Management	$ 18000000	$ 5750000	$ 12250000

			Grand Total Investment Office	$ 1787845420	$ 1045440376	$ 742405044

	Total Fund - Public Markets

	Public Equity		Income		Inflation		ARS		Liquidity		TLPM


Beginning Market Value		173133565089		75697034482		20754664207		242941581		12958587897		3043642242

+ Purchases		18410537137		4344454957		3484472641		-		1457249335		1635085156

- Sales		(24690107839)		(5839912115)		(4313054950)		(11147)		(1423995971)		(639620949)

+ Unitized Fund Purchases		-		-		-		-		-		-

- Unitized Fund Sales		-		-		-		-		-		-

+- Other Changes in MV		4971912895		4870203531		888142950		(2245258)		(1226131007)		(1206622136)

Ending Market Value		171825907281		79071780855		20814224848		240685176		11765710254		2832484312



		Total Fund - Private Markets

	Private Equity		Real Estate		Forestland		Infrastructure


Beginning Market Value		27289616342		31251962079		1985868614		4265410899

+ Contributions		425366431		409496859		-		8043405

- Distributions		(615387905)		(280761997)		(10328866)		(72304328)

+ Unitized Fund Purchases		-		-		-		-

- Unitized Fund Sales		-		-		-		-

+- Other Changes in MV		51649655		408811526		-		132296019

Ending Market Value		27151244523		31789508466		1975545602		4333445995




	Total Public Markets		Total Private Markets		Total Fund


Beginning Market Value		285830435497		64792857934		350623293431

+ Contributions		29331799225		842906695		30174705921

- Distributions		(36906702971)		(978783096)		(37885486066)

+ Unitized Fund Purchases		-		-		-

- Unitized Fund Sales		-		-		-

+- Other Changes in MV		8295260974		592763053		8888024027

Ending Market Value		286550792726		65249744586		351800537313

Note Numbers will not tie exactly to the Asset AllocationPerformance categories due to classification differences

Investment CommitteeMeeting Date	Agenda Item		Investment Committee Action		Vote

No items to report


Investment Committee Meeting Date	Agenda Item		Investment Committee Action		Vote

May 14 2018	Item 5a Private Equity Follow up on Alternative Business Models		ActionApproved to move forward with development of the materials the modeling release this item in a limited scope as a full release would impair CalPERS investment objectives and bring it back as an item for June An electronic roll-call vote was taken The motion passedSummary of DebateAn extensive discussion was conducted on moving forward with the alternative business model and releasing the item in June in a limited scope to not impair the Systemrsquos investment and management objectives		Roll call vote results are listed below

		Committee Member		Vote

		Danny Brown		YES

		Margaret Brown		YES

		Richard Costigan		YES

		Rob Feckner		YES

		Dana Hollinger		YES

		Steve Juarez		YES

		Priya Mathur		YES

		David Miller		YES

		Ramon Rubalcava		YES

		Bill Slaton		YES

		Theresa Taylor		YES

		Betty Yee		YES

Firm Name		TPG Biotechnology GenPar III LP (contd)

Asset Class		Private Equity

Fund		TPG Partners VIII LP

Placement Agent Firm		Jack Weingart Partner of TPGJames Gates Partner of TPGCharles Froeb Partner of TPGCatie Barile Associate at TPGAlastair Bushby Principal at TPGJames Callinan Employee of TPGJosh Evans Employee of TPG Griffin Howard Employee of TPGCharlie Madden Analyst at TPGEmily Powers Analyst at TPGCatherine Quinn Associate at TPGAlex Schwartz Vice President at TPGJennifer Shah Employee at TPGGrant Sutton Associate at TPGAndrew Tirbeni Vice President at TPG

Placement Agent Employment		Internal employees of the General Partner andor its affiliates

Registered with US or non-US financial regulatory authority		TPGs broker-dealer affiliate TPG Capital BD LLC (TPG BD) regularly solicits investors for investment funds sponsored by TPG TPG BD is registered with the US Securities and Exchange Commission and is a FINRA member (CRD No 0143876) Certain employees of TPG Funding LLC or an affiliate thereof (collectively TPG Funding) serve as registered representatives (TPG BD Representatives) of TPG BD

Registered Lobbyist(s)		Mr Weingart is a registered lobbyist in the State of CaliforniaMr Gates is a registered lobbyist in the State of CaliforniaMr Froeb is a registered lobbyist in the State of California New York City Los Angeles San Diego and San JoseMs Barile is a registered lobbyist in the State of CaliforniaMr Bushby is registered lobbyist in the State of CaliforniaMr Callinan is a registered lobbyist in the State of CaliforniaMr Evans is a registered lobbyist in the State of California and San JoseMr Howard is registered lobbyist in the State of CaliforniaMr Madden is a registered lobbyist in the State of CaliforniaMr Powers is a registered lobbyist in the State of CaliforniaMs Quinn is a registered lobbyist in the State of CaliforniaMr Schwartz is a registered lobbyist in the State of CaliforniaMs Shah is a registered lobbyist in the State of CaliforniaMr Sutton is a registered lobbyist in the State of CaliforniaMr Tirbeni is a registered lobbyist in the State of California

Estimated Placement Agent Compensation		TPG Biotechnology GenPar III LP and its affiliates have not engaged compensated or agreed to compensate directly or indirectly any third-party placement agent in connection with the offer of assets securities or services to CalPERS or any CalPERS vehicle The Placement Agents listed above are employees of TPG Funding LLC or an affiliate of TPG Funding LLC and are paid an annual base salary plus a discretionary bonus for their activities as representatives of TPG Capital BD LLC which is not contingent upon the offer of assets securities or services to CalPERS on behalf of TPG Biotechnology Partners III LP Although the Placement Agents receive their compensation from TPG Funding LLC or an affiliate of TPG Funding LLC the Placement Agents are registered representatives of TPG Capital BD LLC an affiliate of TPG Funding LLC and a member of FINRA (CRD No 0143876) The approximate compensation of the employees of TPG Funding LLC or an affiliate of TPG Funding LLC who offered interest in TPG Biotechnology Partners III LP is roughly estimated at $16000 for one month although such compensation was not based directly on the amount of the CalPERS Commitment The compensation is an estimate based on the approximate time and attention spent by the Placement Agents for the TPG Biotech III extension request sent to CalPERS which is estimated to be less than one month as well as CalPERS approximate ownership interest in TPG Biotech III

Disclosed Campaign Gifts and Contributions		None

Notes		None

Transaction Type		Amendment

This information is provided directly from the Placement Agent Disclosure Form as submitted to CalPERS

Firm Name		TPG Biotechnology GenPar III LP

Asset Class		Private Equity

Fund		TPG Biotechnology Partners III LP

Placement Agent Firm		Jack Weingart Partner of TPGJames Gates Partner of TPGCharles Froeb Partner of TPGCatie Barile Employee of TPGAlastair Bushby Employee of TPGJames Callinan Employee of TPGJosh Evans Employee of TPGGriffan Howard Employee of TPGCharlie Madden Employee of TPGEmily Powers - Employee of TPGCatherine Quinn Employee of TPGAlex Schwartz Employee of TPGJennifer Shah Employee of TPGGrant Sutton Employee of TPGAndrew Tirbeni Employee of TPG

Placement Agent Employment		Internal employees of the General Partner andor its affiliates

Registered with US or non-US financial regulatory authority		TPGs broker-dealer affiliate TPG Capital BD LLC (TPG BD) regularly solicits investors for investment funds sponsored by TPG TPG BD is registered with the US Securities and Exchange Commission and is a FINRA member (CRD No 0143876) Certain employees of TPG Funding LLC or an affiliate thereof (collectively TPG Funding) serve as registered representatives (TPG BD Representatives) of TPG BD

Registered Lobbyist(s)		Mr Weingart is a registered lobbyist in the State of CaliforniaMr Gates is a registered lobbyist in the State of CaliforniaMr Froeb is a registered lobbyist in the State of California New York City Los Angeles San Diego and San JoseMs Barile is a registered lobbyist in the State of CaliforniaMr Bushby is a registered lobbyist in the State of CaliforniaMr Callinan is a registered lobbyist in the State of CaliforniaMr Evans is a registered lobbyist in the State of California and San JoseMr Howard is a registered lobbyist in the State of CaliforniaMr Madden is a registered lobbyist in the State of CaliforniaMs Powers is a registered lobbyist in the State of CaliforniaMs Quinn is a registered lobbyist in the State of CaliforniaMr Schwartz is a registered lobbyist in the State of CaliforniaMs Shah is a registered lobbyist in the State of CaliforniaMr Sutton is a registered lobbyist in the State of CaliforniaMr Tirbeni is a registered lobbyist in the State of California

Estimated Placement Agent Compensation		TPG Biotechnology GenPar III LP and its affiliates have not engaged compensated or agreed to compensate directly or indirectly any third-party placement agent in connection with the offer of assets securities or services to CalPERS or any CalPERS vehicle The Placement Agents listed above are employees of TPG Funding LLC or an affiliate of TPG Funding LLC and are paid an annual base salary plus a discretionary bonus for their activities as representatives of TPG Capital BD LLC which is not contingent upon the offer of assets securities or services to CalPERS on behalf of TPG Biotechnology Partners III LP Although the Placement Agents receive their compensation from TPG Funding LLC or an affiliate of TPG Funding LLC the Placement Agents are registered representatives of TPG Capital BD LLC an affiliate of TPG Funding LLC and a member of FINRA (CRD No 0143876) The approximate compensation of the employees of TPG Funding LLC or an affiliate of TPG Funding LLC who offered interest in TPG Biotechnology Partners III LP is roughly estimated at $16000 for one month although such compensation was not based directly on the amount of the CalPERS Commitment The compensation is an estimate based on the approximate time and attention spent by the Placement Agents for the TPG Biotech III extension request sent to CalPERS which is estimated to be less than one month as well as CalPERS approximate ownership interest in TPG Biotech III

Disclosed Campaign Gifts and Contributions		None

Notes		None

Transaction Type		Amendment

This information is provided directly from the Placement Agent Disclosure Form as submitted to CalPERS

Program Area	Name of Investment	Commitment (million)	Initial Funding Date	Complies with Delegation Number

Private Equity	TowerBrook Structured Opportunities Fund II (Onshore) LP	$25000	Jun-2018	INV-18-06

Private Equity	TowerBrook Investors V (Onshore) LP	$40000	Jun-2018	INV-18-06

Private Equity	TPG Partners VIII	$60000	Jun-2018	INV-18-06

Real Assets	Land Management Company LLC	$1550	Jul-2014	INV-16-07

Agenda Item 5d - Attachment 2 - CalPERSPrivate Equity 6/4/2018 8/13/2018 Private Equity Program The...

Documents

Transcript of Agenda Item 5d - Attachment 2 - CalPERSPrivate Equity 6/4/2018 8/13/2018 Private Equity Program The...

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