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State Panel to Investigate Complaints of Calpers Investment Conflict

California officials said they opened an investigation into whether the former investment chief for the nation’s largest pension fund violated state conflict-of-interest laws by holding personal investments in private-equity firms in which the fund is also an investor.

Several board members at the California Public Employees’ Retirement System, known as Calpers, are seeking more information about the circumstances surrounding the Aug. 5 resignation of former investment chief Ben Meng, including when Chief Executive Marcie…

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