The California pension fund is doubling its exposure to private credit and establishing new allocations to private equity and value-add real estate. The retirement fund plans to conduct searches next year.
The California retirement system wants to hire a firm to handle both private equity and credit strategies in a separate account format to get up to its 14% target allocation. Â
A court ordered examiner’s report on the Caesars bankruptcy posited that potential damages related to the company’s spin-off of certain valuable assets ahead of the debt restructuring could be in the $3.6 billion to $5.1 billion range.
Franklin Square Capital Partners has teamed up with One Equity Partners to form an operating company that will invest in mid-market private businesses. Â