Officials of the $220.1 billion CalPERS, the $148.8 billion CalSTRS and the $96 billion New York City Retirement Systems announced a joint partnership with the New America Alliance to increase the use of emerging managers among U.S. pension funds.
CalPERS CEO Fred Buenrostro, CalSTRS CIO Christopher Ailman and New York City Comptroller William Thompson Jr. said the three systems will work with the alliance, a non-profit organization representing the Latino business and financial community, to educate U.S. pension plans, endowment and foundations about emerging and minority money managers. "Other pension funds look to us for leadership," said Mr. Buenrostro.
As part of the partnership, CalPERS committed $400 million to Centinela Capital Partners, a new private equity emerging manager fund of funds.