CalPERS committed a total of $605m to four alternative investment funds in the fourth quarter, according to a report to the investment committee.
The $479bn California Public Employees’ Retirement System, Sacramento, committed $300m to Tiger Global Private Investment Partners XV, an investment fund managed by Tiger Global Management.
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Pension officials also committed $155m to Permira Growth Opportunities II, a growth equity fund, and $100m to BRV Lotus Fund III, a developed Asia growth equity fund managed by BlueRun Ventures.
CalPERS also committed $50m to Dragoneer Opportunities Fund VI, a growth equity fund managed by Dragoneer Investment Group.
In all, CalPERS completed 34 commitments totaling $7.5bn in the second half of 2021 and 58 commitments totaling $12bn in all of 2021. Commitments made through the third quarter were previously reported. Staff also made 11 co-investments in the second half of 2021, the report showed.
Staff has been focusing on increasing the system’s $49bn private equity portfolio’s exposure to growth equity and mid-size buyout investments, the report said.
Source: Pensions & Investments
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