Calpers: ‘We have dialed back on clean energy’; 10% annualized losses since 2007

“Clean-tech investing has got an L-curve for ‘lose’.”

From today’s Wall Street Journal, Calpers chief investment officer said at the recent ECO:nomics conference:

We have almost $900 million in investment expressly aimed at clean tech. We’re all familiar with the J-curve in private equity. Well, for Calpers, clean-tech investing has got an L-curve for “lose.” Our experience is this has been a noble way to lose money. And we’re not here to lose money.

We have dialed back. I think there’ll be another run at it [clean energy]. Maybe we’ll be wiser.

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