CalPERS committed up to $250 million to Ares Corporate Opportunities Fund II, a private equity fund.
The $207.1 billion California Public Employees' Retirement System, Sacramento, also committed $250 million to Carlyle/Riverstone Global Energy and Power Fund III, a $3.8 billion energy-related fund. In addition, CalPERS committed $50 million to Falconhead Capital II, a buyout fund investing in midsized leisure and sports companies, and $75 million to Levine Leichtman Capital Partners Deep Value Fund, a distressed debt fund.
Another $100 million will go to KBC Blue Diamond fund, which invests in Asian funds of hedge funds. The limited partnership is run by KBC Alpha Asset Management, a unit of KBC Groep NV, a Belgian financial services firm.