CalPERS approves $175m commitment

The US public pension has backed a TCV venture capital fund.

Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, California
AUM: $352.15bn
Allocation to alternatives: 20.96%
Bitesize: $200-500m

California Public Employees’ Retirement System has committed $175 million to TCV X, which is a venture capital technology fund that launched in June 2018 with a target of $2.75 billion. The fund held a final close in January 2019 at $3 billion and will invest in companies within the IT, internet and software industries.

The US public pension has an 8% target allocation to private equity that currently stands at 8.10%

As illustrated in the charts below, CalPERS has allocated 20.96% to alternative assets. The pension has made several commitments to a diversified group of funds this year.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.