Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, US
AUM: $490.18 billion
Allocation to alternatives: 21.6%
These commitments are comprised of:
- $600 million to Summit Partners Growth Equity Fund XI
- $375 million to Carlyle Partners VIII
- $150 million to Advent Global Technology II
- $100 million to H.I.G. Europe Middle Market LBO Fund
- $150 million to Arsenal Capital Partners VI
- $50 million to Arsenal Capital Partners Growth
- $200 million to Project Stream Co-Invest Fund
- $50 million to Springblue A
- $50 million to Springblue B
CalPERS has an 8 percent target allocation to private equity, which currently stands at 8.3 percent.
As illustrated below, the $490.18 billion public pension devotes 21.6 percent of its full investment portfolio to alternative assets. The pension’s recent private equity commitments have tended to focus mostly on North American venture capital, buyout and fund of funds vehicles that invest across a variety of sectors.
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