Calpers selling stocks to raise cash-WSJ

NEW YORK, Oct 24 (Reuters) - California Public Employees' Retirement System, the largest U.S. public pension fund, is selling stocks to ensure it has enough cash to meet its obligations, the Wall Street Journal reported on its website on Friday.

The pressures come as the fund, known as Calpers, has had to raise cash to meet commitments to private equity firms and real-estate partners, the Journal said.

Members of the board investment committee at the fund met on Monday and talked about ways to raise more cash, the paper said, citing unnamed sources.

Calpers could not immediately be reached for comment. But a spokeswoman told the paper, "Calpers receives more than enough cash from employers and members to cover its monthly benefit obligations."

Calpers, which provides retirement and health benefits to 1.6 million active employees, has seen its assets decline by more than 20 percent, or around $50 billion, from the beginning of this fiscal year through Oct. 10 to stand at $190 billion.

On Thursday, a Calpers spokesman said the pension fund may need to tap California's public employers for more money if it does not reverse its steep investment losses.

Calpers is also searching to replace its chief executive and chief investment officers who stepped down earlier this year. (Editing by Ben Tan)