California Public Employees Retirement System trustees committed $100 million to the Asia Recovery Fund, up $25 million from a planned $75 million commitment and part of $350 million recently committed to alternative investments. Trustees for the $151 billion Sacramento-based fund also committed $100 million to Coller International Partners III, and $150 million to Hellman & Friedman Capital Partners IV. The Asia Recovery Fund will invest up to $300 million in Asian distressed securities, primarily Japan and Korea, with the global investment bank Rothschild Inc. Rothschild will work with Daiwa Securities, Japans second largest banking firm. The Coller fund will purchase secondary interests in venture capital and buyout partnerships. Hellman & Friedman will make large, privately negotiated equity investments in businesses. Separately, the system yesterday re-elected Charles Valdes chairman of the investment committee and William Crist vice chairman.