The $240 billion California Public Employees’ Retirement System has committed a total of $1.4 billion to five private equity funds and a hedge fund.
Last month, CalPERS committed $500 million to the Riverstone/Carlyle Global Energy & Power Fund IV; $442 million to Bridgepoint Europe IV fund; $200 million to the Resolute Fund II; $106 million to Carlyle Europe Technology Partners II and $100 million to Advent Japan Private Equity Fund.
The Advent Japan Private Equity Fund is the first dedicated vehicle raised by Advent International to invest in Japanese middle-market companies “requiring a high degree of operational change and strategic direction,” according to CalPERS.
The fund also committed $100 million to the Marquee Fund, a multi-strategy hedge fund run by Evnine & Associates.
“The EvA multi-strategy product will utilize ‘learning and forgetting’ algorithms to adjust strategy weights,” according to CalPERS.