California Public Employees' Retirement System, Sacramento, will...

California Public Employees’ Retirement System, Sacramento, will invest up to $100 million in Kline Hawkes Pacific, a venture capital fund seeking to raise $250 million, focusing on early, midstage and late-stage venture capital investments in Southern California. Hamilton Lane was the consultant. In addition, CalPERS agreed to double its commitment in the California Urban Investment Partners to $100 million. CUIP is a partnership between CalPERS and Johnson/MacFarlane Partners that buys and redevelops retail properties in California urban areas. A proposal to commit $200 million to senior housing was deferred until February. If approved, the $161 billion CalPERS will select managers to create the specialized real estate equity portfolios.