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CalPERS to allocate additional USD200m to PE emerging investment management programme

The California Public Employees' Retirement System (CalPERS) is to allocate an additional USD200m to its emerging manager programme in the private equity asset class.

CalPERS will use a new fund-of-funds to deploy the capital, focusing on high-potential emerging manager funds.
 
“This new allocation is a reflection of CalPERS ongoing commitment to emerging and diverse managers,” says Ted Eliopoulos, CalPERS’ interim chief investment officer. “Our goal is to generate appropriate, risk-adjusted investment returns by identifying early stage funds with strong potential for success.”
 
The new allocation will be deployed over four years and is in addition to a USD100m commitment made in 2012. The selection of a manager to head the fund-of-funds will be completed by CalPERS investment staff later in the year.

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