CalPERS, CalSTRS took big losses on energy investments, report says

The L.A. Times reports:

California's two biggest public pension funds lost more than $5 billion on energy-related investments for the year ended June 30, according to a new report.

The California Public Employees' Retirement System posted losses of just over $3 billion, a 28% decline, on its largest oil and gas investments; the California State Teachers' Retirement System lost about $2.2 billion on its largest energy assets, down 27%, the report said.

Gulp.