CalPERS made commitments of up to $15.2bn to new and existing alternative investment strategies in Q3 2022, according to a report by Pension & Investments Online.
The $431.2 billion pension fund made an additional $1.5 billion commitment to Tower Bridge Infrastructure Partners, a private equity infrastructure fund managed by Global Infrastructure Partners; and also committed an additional $1.3 billion to Golden Reef Infrastructure Trust, an existing separately managed account run by infrastructure manager QIC.
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Commitments totalling $2.1 billion were also committed to three private credit strategies managed by Owl Rock Capital Partners: $1 billion to OR Diversified Lending (CP), $600 million to OR Diversified Lending co-investment and $500 million to OR Diversified Lending overflow.
Pensions fund officials committed $750 million to Ares Sports, Media & Entertainment Finance, Ares Management’s private equity and credit fund that invests in sports leagues, sports teams and sports-related franchises and media and entertainment companies, also received a commitment of $75 million; while $750 million went to IFM Global Infrastructure Fund, an infrastructure fund managed by IFM Investors; and up to $750 million to CA Co-Investment Limited Partnership, managed by private equity firm Advent International.
Source: Private Equity Wire
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