CalPERS invested $75 million in OZ Domestic Partners II, a multistrategy hedge fund managed by Och-Ziff Capital Management Group. The fund uses merger arbitrage, long-short equity special situations, convertible/capital structure arbitrage and distressed credit.
The $206.1 billion California Public Employees' Retirement System, Sacramento, also invested $100 million in Vision Blue Diamond, an Asian hedge fund of funds managed by Vision Investment Management.
In private equities, CalPERS committed $25 million to Carlyle Mexico Partners, which will make controlling investments in Mexico companies. It also committed $35 million to Lightspeed Venture Partners VII, an early stage technology fund, and $50 million to Pharos Capital Partners II, a mid- to late-stage fund investing in underserved markets across the country.