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

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR