The California Public Employees’ Retirement System is stepping up efforts to track how big of a cut of investment profits go to the private equity managers it backs.

Calpers, the nation's largest public pension fund, with assets of about $303 billion, said it would report this fall the total amount of carried interest-the share of deal profits pocketed by fund managers-which it paid in the fiscal year ended June 30. The public pension fund up to now hasn't been able to account for all it pays in carried interest for the 700-plus private equity funds in its portfolio.