CalPERS Commits $800 Million To Cleantech, Emerging Markets Plays

Feb 23 2007 | 11:38am ET

The $230 billion California Public Employees’ Retirement System will commit $400 million each to two new private equity vehicles – one focusing on clean energy and technology investments, and the other on global emerging markets.

The investments will be managed by specialized teams within Pacific Corporate Group, a provider of private equity investment management services to institutional clients. PCG will draw down CalPERS’ capital over a three-to-four year period to invest in its cleantech fund of funds and its emerging market fund of funds.

“Our funds will be commingled with other investors in the cleantech fund of funds, but the emerging market fund of funds will be dedicated exclusively to CalPERS so there wouldn’t be other investors in this fund with us,” Clark McKinley, a spokesman for the country’s largest public pension fund, told FINalternatives.

The new investments will augment the system’s current Environmental Technology Program, which has $200 million in cleantech commitments to seven partnerships. PCG’s emerging market vehicle will invest in private equity strategies including venture capital, buyout and acquisition financing, growth and expansion capital, and mezzanine financing.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...