CalPERS has made a $1 billion commitment aimed at identifying and supporting the next generation of investor entrepreneurs in the private markets sector.
CalPERS has made a $1 billion commitment aimed at identifying and supporting the next generation of investor entrepreneurs in the private markets sector.
CalPERS will partner with two of its long-standing asset managers, TPG and GCM Grosvenor Elevate, with each firm receiving a $500 million allocation from the pension fund.
CalPERS has been investing in newly established teams and partnerships in the investment industry for more than 30 years.
CalPERS says TPG, through its TPG NEXT fund, the firm’s strategy dedicated to investing in diverse alternative asset managers, and GCM Grosvenor Elevate, will “identify and cultivate the next generation of investors”.