CalPERS approves $657m in commitments

The $352bn US public pension commits to an Asia-focused and a Europe-focused fund.

The California Public Employees’ Retirement System (CalPERS) committed €300 million ($356.7 million) to Carlyle Europe Partners V and $300 million to TPG Asia VII.

The $352 billion US public pension has a 7.5 percent current allocation to private equity, slightly below its 8 percent target. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.