Calpers Bets $1 Billion Bush Aide Can Exploit Health Changes

Bloomberg
October 23, 2009

The California Public Employees’ Retirement System, the biggest U.S. pension fund, is...the sole investor in Health Evolution Partners, a two-year-old private-equity firm in San Francisco run by David Brailer, a first-time money manager and former aide to President George W. Bush. Brailer, 50, coordinated Bush’s planning for an electronic health-records network; Calpers is counting on him to earn its members 20 to 30 percent returns...

Brailer said his investments focus on areas of the health- care system where waste and inefficiency are rampant. These systemic trouble spots, which Brailer calls “pain points,” cost the U.S. medical system about $700 billion a year, according to the New England Healthcare Institute, a nonprofit policy research organization in Cambridge, Massachusetts.

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