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

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

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

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 
Error

FINalternatives Trending

From the current issue of