CalPERS committed a total of $1.93 billion to private equity and hedge funds, according to recently released documents on the pension funds website.
In private equity, the $248.2 billion California Public Employees Retirement System, Sacramento, committed $950 million to TPG Partners VI, which will invest in leveraged buyouts and special situations primarily in North America, Europe and Asia; $500 million to Advent International GPE VI, which will invest primarily in middle-market companies in Western Europe and the U.S.; $180 million to Huntsman Gay Capital Partners, a fund focused on middle-market leveraged buyouts; and $125 million to Audax Private Equity Fund III, which will invest in leveraged acquisitions of lower middle-market companies. The commitments were made in March.
In hedge funds, the system made follow-on commitments of $50 million each to Platinum Grove Contingent Capital Partners and OZ Domestic Partners II; $30 million each to Black River Fixed Income Relative Value and PFM Diversified Fund; and $15 million to 47 Degrees North Capital Management. Those commitments were made in February.