The California Public Employees’ Retirement System (CalPERS), the nation’s largest pension fund, has drafted a new performance disclosure policy for private-equity investments, answering the call for greater transparency and protection of members’ pension benefits.

CalPERS, which manages $131 billion in assets, will publish fund data on a quarterly basis including its internal rate of returns (IRR), the amount of cash invested and profits realized from investment. It also plans to work closely with the private equity industry to educate investors on IRRs and portfolio company valuations. Educational tools and primers will be available on its Web site beginning April 30.

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