CalPERS staff recommended hiring 12 managers for the $152 billion pension fund’s new $500 million California Initiative, a program designed to provide financing to underserved markets primarily in the state.
Recommended commitments are: Yucaipa Corporate Initiative Fund, $200 million; Green Equity Partners California Opportunity Fund, $50 million; Levine Leichtman California Growth Partners, $50 million; DFJ Central Fund, $20 million; Blue Capital Partners Fund II, $25 million; Opportunity Capital Partners Fund IV, $25 million; Provender Opportunities Fund II, $25 million; Bank of America California Community Venture Fund, $50 million; California Embarcadero Fund, $25 million; American River Ventures Fund, $10 million; Garage California Entrepreneurs’ Fund, $10 million; and Silicon Valley Community Ventures Fund II, $10 million.
The investment committee of the California Public Employees’ Retirement System, Sacramento, will consider the recommendations on Monday.
