CalPERS approves $1.88bn in commitments

The US public pension has backed four diversified buyout funds across multiple regions.

Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, California
AUM: $376.61bn
Allocation to alternatives: 19.99%
Bitesize: $200-500m

California Public Employees’ Retirement System has committed $550 million to Advent International GPE IX, $500 million to Cerberus CAL III Partners, $250 million to Lindsay Goldberg V and €520 million ($583.06 million) to Permira VII. Each fund will invest in multiple sectors using a buyout strategy, with Cerberus CAL III Partners being the only fund investing exclusively in one region (North America).

The $376.61 billion US public pension has an 8% target allocation to private equity that currently stands at 7.1%, down from its previous allocation of 7.7%.

As illustrated in the charts below, CalPERS allocates 19.99% to alternative assets. The pension has a strong appetite for diversified buyout funds, particularly those that invest either partially or fully in North American companies.

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