The California Public Employees' Retirement System (CalPERS) has committed USD75 million to private equity firm Siris Partners.
This is the first direct commitment to Siris, which has previously received commitments from CalPERS through the System's emerging manager fund-of-funds.
"CalPERS is committed to emerging manager strategies," says Ted Eliopoulos, CalPERS Chief Investment Officer. "The transition from a fund-of-funds relationship to a direct relationship with CalPERS is the outcome we hope to see with our emerging manager programs."
Siris will use the commitment to make private equity investments in middle-market technology companies in North America, with a focus on data storage and infrastructure, mobile data, smart phone and cloud computing sectors.
Siris Capital is a private equity firm focused on making control investments in data/telecommunications, technology and technology-enabled business service companies in North America. The firm is headquartered in New York, New York.
CalPERS has nearly USD12 billion invested with 395 emerging managers. Since 2010, CalPERS has made more than USD1 billion in new commitments to emerging manager strategies in Private Equity, Real Estate, and Global Equity, as well as commitments to individual emerging managers who have transitioned to direct investments.
