California Public Employees' Retirement System staff is recommending the board approve a small and emerging manager development program of up to $2 billion that would hire domestic equity managers without long performance track records. The new program also would help the managers with business management and other services. Board approval could come on Monday.
Staff for the $140 billion Sacramento-based fund also is recommending trustees approve a $100 million investment in Alta California Partners II. The fund will make early stage investments in life sciences and information technology companies, at least 60% of which will be based in California. Hamilton Lane, one of CalPERS' alternative investment consultants, also recommended the board approve the investment. A decision could be made on Monday.