CalPERS makes $3.68bn in commitments

The US public pension has backed 11 private equity funds.

Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, US
AUM: $389.69 billion
Allocation to alternatives: 20.67%

California Public Employees’ Retirement System has committed $3.68 billion across 11 private equity vehicles, according to its September 2020 investment committee meeting documents

The commitments comprise €750 million to CVC Capital Partners VIII; $800 million to Silver Lake Partners VI; $500 million to Clayton, Dubilier & Rice Fund XI; €300 million to Vitruvian Investment Partnership IV; $300 million to KKR Asian Fund IV; $250 million to Ares Corporate Opportunities Fund VI; $250 million to Francisco Partners VI; $150 million to Q-Street Capital; $95 million to SLP Redwood Co-Invest; $50 million to Francisco Partners Agility II; and $40 million to GPE IX TKE Co-Investment.

As illustrated below, CalPERS allocates 20.67 percent of its full investment portfolio to alternative assets. Its recent private equity commitments have targeted buyout funds that invest primarily in North America and Europe.

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