CalPERS Commits $1.9B To Hedge, Buyout Funds

May 15 2008 | 12:16pm ET

The California Public Employees Retirement System has committed a total of $1.9 billion to some big-name buyout and hedge funds.

The nation’s largest public pension fund committed $500 million to Advent International GPE VI, to invest primarily in middle market companies located primarily in Western Europe and the U.S., $125 million to Audax Private Equity Fund III, which will target U.S. companies with enterprise values between $25 and $500 million across a range of industries, and $950 million to TPG Partners VI, which will focus on leveraged buyouts and special situations, primarily in North America, Europe and, to a lesser degree, Asia.

Also, CalPERS is making a $180 million commitment to Huntsman Gay Capital Partners Fund, a middle-market offering raised by rookie buyout shop Huntsman Gay Capital Partners, led by Jon Huntsman, founder of The Huntsman Group of Companies, and Robert Gay, who previously served as a senior executive at Bain Capital.

On the hedge fund front, CalPERS has committed a total of $175 million to hedge funds 47 Degrees North, Platinum Grove Contingent Capital Partners, OZ Domestic Partners II, Black River Fixed Income Relative Value and PFM Diversified Fund as part of its Risk Managed Absolute Return Strategies Program.


In Depth

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...