The California Public Employees' Retirement System said it set aside billions of dollars to buy assets from Citigroup and other financial institutions tied to the Troubled Asset Relief Program. "Credit is still tight in the markets, but we're able to raise enough cash to still make good deals and position ourselves for an eventual market turnaround," said Henry Jones, a Calpers board of administration member. The pension fund said it is also seeing signs of optimism in stock markets.

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