CalPERS In On KKR’s Latest Fund

Nov 9 2006 | 1:14pm ET

The California Public Employees’ Retirement System has made a $500 million commitment to Kohlberg Kravis Roberts’ latest private equity fund.

CalPERS spokesman Brad Pacheco confirmed that the investment will be reported to the board of the nation’s largest public pension fund. The investment has already been made, he said. It does not require board approval.

KKR 2006 is KKR’s 11th p.e. fund. The $15.5 billion fund will invest in North American and European large-cap companies, focusing on investments requiring between $150 million and $600 million in equity.

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