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CalPERS approves more than $1.7bn in commitments

The US public pension has allocated new commitments to private equity.

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

California Public Employees’ Retirement System has approved over $1.7 billion-worth of commitments across nine private equity funds, according to the pension’s November 2021 board meeting document.

These commitments are comprised of:

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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