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

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.