SACRAMENTO, Calif. — The board of the $197.5 billion California Public Employees' Retirement System approved a commitment of up to $400 million to Aetos Capital Asia II, a real estate fund, according to a summary of the board's May 16 closed-session meeting. The board also approved commitments of up to $125 million in Blum Strategic Partners III, a corporate governance fund, and up to $100 million to City View American Fund, a real estate fund, according to the summary. All three investments are subject to negotiations.
The system also committed €150 million ($185 million) to Bridgepoint Europe III, a buyout fund making investments in Western European middle-market companies; $100 million to CVC Capital Partners Asia Pacific II, which takes equity stakes in large, pan-Asian companies; and $50 million to Energy Investors Funds Group's United States Power Fund II, which will invest in small- to mid-market U.S. power assets.
CalPERS' absolute-return program invested $50 million in the Chatham Asset High Yield Offshore Fund and $50 million in the Wayzata Recovery Fund, a distressed debt fund.