The California Public Employees Retirement System is currently in talks with BlackRock about the latter selling its private equity business, reported Bloomberg News. Sources told the news outlet that CalPERS, the largest pension fund in the U.S., is weighing the possibility of overseeing some or all of BlackRock’s $26.2 billion private equity investments. Right now, the talks are still in the preliminary stage. According to Bloomberg, a key reason for BlackRock’s possible sale of its private equity business is to “control fees and offset anemic returns.”
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