CalPERS approves €250m commitment

The US public pension has backed a European private equity fund.

Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, California
AUM: $347.24bn
Allocation to alternatives: 20.96%
Bitesize: $200-500m

California Public Employees’ Retirement System has agreed to commit €250 million to Triton Fund V, according to a document for a board meeting that will be held on 17 December. The European buyout fund opened in June 2018 and is looking to make investments in consumer goods, industrials and business services. The fund has a target of €3 billion just like its predecessor, Triton Fund IV, which held a final close in May 2013 at €3.5 billion.

The $347.24 billion US public pension has an 8% target allocation to private equity that currently stands at 8.1%.

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 in 2018.

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