California Public Employees' Retirement System, Sacramento, approved commitments of $150 million to Welsh, Carson, Anderson & Stowe VIII, a fund that will invest in health care and information services in the U.S.; and $125 million to Green Equ ity Investors III, which will invest mainly in West Coast consumer-oriented companies.
The board also is asking alternative investment consultant Pacific Corporate Group to respond to questions about three employee departures and c orporate ownership changes at Pacific Corporate. The board wants to know how the changes are likely to affect the $136 billion system's investments.
Also, a CalPERS committee recommended a new selection process for defined contribu tion plan administration. CalPERS has been acquiring record-keeping and customer service on a plan-by-plan basis. Under the new process, CalPERS would establish a formal alliance with a firm to provide the services for all of the s ystem's DC plans.