CalPERS Allocates $1.1B To Private Equity Funds

Dec 13 2007 | 12:04pm ET

The nation’s biggest pension fund recently approved committing some $1.1 billion to three private equity vehicles as part of its alternative investment management program.

According to an internal memo, CalPERS approved $1 billion to Apollo Investment Fund VII, which will be the firm’s flagship U.S. and Western Europe buyout fund and will target investments across industries including chemicals, consumer and retail, and financial and business services. Apollo is looking to raise $15 billion for the fund. 

CalPERS is also committing $140 million to the Ares/CalPERS CLO Vehicle, which will invest in senior debt securities in a leveraged vehicle supported by long-term financing.  “The vehicle should benefit from a difficult banking environment taking advantage of the banks need for liquidity after the subprime write-downs and congestion in the LBO market,” according to the memo.

In addition, the fund is committing $25 million to Audax Credit Opportunities Fund, which will invest throughout the capital structure in the middle market and will have the flexibility to invest in numerous debt instruments through all phases of the credit cycle.


In Depth

Q&A: Pantheon’s McCrary Says Private Equity Market ‘Robust’

Dec 17 2014 | 8:32am ET

Dennis McCrary is a partner at Pantheon, a private equity firm with $32.2 billion...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.