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Stephanie OanaThe largest US public pension fund has agreed to release internal rates of return (IRRs) for its private equity investments. In settlement of a suit brought by the San Jose Mercury News, the California Public Employees’ Retirement System (Calpers) agreed to release IRRs for its private equity investments for four quarters (beginning with the quarter ending 30 June, 2002). The information will also include the investment year, capital committed and cash-in, cash-out data. Calpers has not agreed to release portfolio company identities, valuations or any other performance data, and the Mercury News has agreed to give up its claims for such information until the earlier of 31 July, 2003 or such time as Calpers adopts a private equity disclosure policy. Calpers has said its investment committee will vote on new public reporting procedures on 17 March.

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