CalPERS approves $5.1bn in commitments

The US public pension has backed 18 private equity vehicles.

Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, United States
AUM: $490.18 billion
Allocation to alternatives: 21.6%

California Public Employees’ Retirement System has approved $5.1 billion-worth of commitments to 18 private equity funds, according to a document from its September 2021 investment committee meeting.

The commitments include $1.4 billion to Berkeley Street Strategic Solutions, $600 million to KKR North America Fund XIII and $500 million to Trident IX.

The $490.18 billion public pension has an 8 percent target allocation to private equity that currently stands at 8.3 percent.

As illustrated in the charts below, CalPERS devotes 21.6 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for diversified funds that are North America-focused.

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