California Public Employees' Retirement System related stories
All articles and analysis
CalPERS may hike alternatives allocationThe $182bn pension, struggling with the denominator effect, will vote next week whether to raise the upper limit of its target allocation to private equity and real estate. The fund also has committed $150m to Carlyle’s dedicated financial services fund.
- CalPERS: ‘Discussing’ capital call timings with GPs ‘not unusual’
While stressing it continues to honour capital calls, CalPERS has said it is not atypical for it to ask GPs to delay requests for funds. The pension has confirmed it sold more than $2bn in private equity holdings on the secondary market last year, including interests in Carlyle and Landmark funds.
- CalPERS-backed Health Evolution plans NY office
The San Francisco-based firm, launched by CalPERS last year, has hired former Goldman Sachs healthcare specialist Christopher McFadden to head its first East Coast presence. Health Evolution has already invested and exited one portfolio company with a markup 'north of 25%'.
- CalPERS commits $500m to Blackstone
The $184bn pension, struggling with the denominator effect, committed $750m to Blackstone’s previous buyout vehicle. CalPERS documents confirmed rumours that Blackstone has lowered its fund target to between $15bn and $20bn.
- Unions launch global protest against private equity industry
The US’ largest union of long-term care workers, the Service Employees International Union, launched its ‘global day of action’ today targeting KKR, its portfolio company Toys R Us and pension funds and politicians in support of the buyout industry. Unite, the largest union in Britain, also joined the cause.
- Conversus stops paying dividends
The Euronext-traded fund of funds expects that half of its commitments in the next 12 months will be in the secondary market.
- Asia Alternatives closes second FoF on $950m
The San Francisco- and Hong Kong-based firm has closed its second fund $100m higher than its initial target, but slightly shy of the $1bn close anticipated. The fund will focus on fund investments in China, Japan, Korea and India.
- Bridgepoint closes fourth European fund on €4.8bn
The London-headquartered mid-market investor has nearly doubled the size of its previous fund, garnering large re-ups from existing investors like CalPERS.
- New York pension commits $110m to minority-led funds
The New York State Common Retirement Fund has for the first time backed female-founded Asia Alternatives as well as African American-led GenNx360 Capital. The pension estimates a 20% loss since April.
- CalPERS approves $809m in re-ups
The public pension has committed to Carlyle’s fourth Asian growth fund, Welsh Carson’s 11th buyout fund, First Reserve’s 12th energy fund and Clessidra's second Italy-focused fund. Together these four funds are targeting more than $22bn.