California Public Employees' Retirement System related stories
All articles and analysis
Ares agrees to cut $10m in fees for CalPERSAs part of the $200bn pension’s fee review, Ares Management as well as an activist investment fund have agreed to cut fees and not use placement agents when soliciting commitments from CalPERS.
- CalPERS commits $250m to GSO fund
Blackstone affiliate GSO Capital Partners is targeting $2bn for its Capital Solutions Fund, which was slated to hold a final close in May.
- KKR alumni attract $150m from CalPERS
Riverwood, staffed with several former KKR professionals, is targeting $750m for its debut fund.
- Apollo Global raises $107m for CMBS fund
The private equity real estate arm of Leon Black’s buyout shop has garnered $107m for its securitised debt vehicle, on top of $317m for its mortgage REIT.
- CalSTRS joins ban on Stuy Town-style deals
The $138bn pension has joined its neighbour CalPERS in supporting legislation that would prevent the two funds from investing with real estate managers who try to convert rent-controlled apartments. CalSTRS staff will also consider possible penalties for GPs who abuse the ban.
- CalPERS cuts $99m in fees across asset classes
The $198bn pension has been negotiating with external managers for fee cuts, and has slashed an additional $99m in fees from managers including 17 private equity firms.
- Big beasts
No one agrees on the most influential investors in global infrastructure, but there are many strong contenders. Here’s our pick, after asking around the industry.
- Villalobos rebuts ‘distorted’ lawsuit
Placement agent Alfred Villalobos has accused California’s attorney general of trying to ‘deprive’ him of the means to support himself and prepare a defense.
- Quadrangle may sell stake to ‘anchor’ investor
The New York-based firm, which is preparing to raise its third fund, may seek out a large investor to buy a stake in its management company and anchor its fundraise.
- State ‘lobbying’ bill stalls, placement ban looms
A California bill that would require placement agents to take flat fees for fundraising services failed to pass a committee Wednesday, prompting key state officials to threaten a push for a full ban on placement agents.