CalPERS commits $500 million to Silver Lake

The $323.9 billion California Public Employees’ Retirement System, Sacramento, committed $500 million to Silver Lake Partners V, according to agenda materials issued Monday for the June 19 investment committee meeting.

The commitment was made in April by the private equity staff using delegated authority that allows it to bypass the investment committee for approval.

The Silver Lake buyout fund, which specializes in technology-focused investments, closed with $15 billion in commitments from a variety of institutional investors.