Eron Corp

The California Public Employees' Retirement System on Tuesday said it is creating a $1-billion energy fund with Enron Corp., their second such venture. The $126-billion CalPERS, the largest U.S. public pension fund, and Houston-based Enron, one of the biggest U.S. natural-gas companies, will each put $500 million into Enron II, which will invest in energy-related properties and businesses involved in natural gas, crude oil and electricity.

The California Public Employees' Retirement System on Tuesday said it is creating a $1-billion energy fund with Enron Corp., their second such venture. The $126-billion CalPERS, the largest U.S. public pension fund, and Houston-based Enron, one of the biggest U.S. natural-gas companies, will each put $500 million into Enron II, which will invest in energy-related properties and businesses involved in natural gas, crude oil and electricity.