CalPERS Issues RFP For Private Equity Fund Of Funds Manager

Jul 12 2011 | 7:41am ET

The California Public Employees’ Retirement System is searching for a new investment vehicle—most likely a fund of funds—that invests in domestic emerging managers for the pension fund’s private equity program.

The manager would invest on behalf of CalPERS in a 7- to 10-year relationship across the private equity spectrum, including venture capital, expansion capital and leveraged buyout transactions.

“Through the manager, we’re looking for partnerships whose principal officers have individual experiences and underlying investment strategies to generate earnings in the top quartile of private equity investments,” said Réal Desrochers, senior investment officer for CalPERS Alternative Investment Management Program. “This entails partnerships or direct investments, deal sourcing, analyzing, screening, due diligence, negotiating and closing transactions, monitoring and exiting investments.”

The request for proposals is available on the CalPERS Web site. The deadline to submit an RFP is  July 25.

CalPERS is the nation’s largest public pension fund with approximately $240 billion in market assets.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.