CalPERS Commits $1.7B To Hedge, Private Equity Funds

Nov 9 2007 | 11:20am ET

The California Public Employees Retirement System has committed a total of $1.7 billion to five private equity funds and a pair of multi-strategy hedge funds.

The $254 billion public pension committed $75 million to Carlyle Strategic Partners II, $100 million to EMA Investments, $500 million to PCG Corporate Partners Fund II, $400 million to TGP Asia V and $400 million to WLR Recovery Fund IV.

CalPERS also made a $75 million commitment to Platinum Grove Contingent Capital Partners, a multi-strategy hedge fund with a focus on relative value trading managed by former Long Term Capital Management executives Myron Scholes and Chi-fu Huang. The system also committed $150 million to Canyon Special Opportunities Fund, which is “capped at $1 billion of investments and will not provide liquidity to investors (or performance fees to the managers) earlier than the end of 2009,” according to an internal memo.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of