Op-Ed: Billions in the name of diversity: Does CalPERS’ emerging manager program pay off?

CalPERS staff spent three days at a Monterey Beach hotel last month reviewing a DEI consulting services workplan with an outside firm, Chanin Kelly-Rae Consulting, and voted to approve it. Board members heard a “Best Day at CalPERS” presentation from the same Sustainable Investments staff who run the fund’s Emerging & Diverse Manager Program. What the...