CalPERS committed $4.47 billion to 12 private equity funds and five co-investment opportunities in the fiscal year ended June 30.
The fund's largest commitment was to CVC Capital Partners VI for $667 million, followed by a $600 million commitment to Cerberus CP Partners and a $500 million commitment to Apollo Investment Fund VIII.
Among the 12 funds, CalPERS had a previous relationship with eight of the managers. Three funds were considered graduates (former fund-of-funds relationships) and one fund -- Onex Partners IV -- was a new relationship.