CalPERS committed $75 million to private equity firm Siris Capital Group, the $296.6 billion pension fund announced Thursday.
This is the first direct commitment to Siris, with which CalPERS previously has invested through its emerging manager fund-of-funds program.
The Siris fund will invest in “middle-market technology companies in North America, with a focus on data storage and infrastructure, mobile data, smartphone and cloud computing sectors,” said a news release from the pension fund.
The California Public Employees' Retirement System, Sacramento, has nearly $12 billion invested with 395 emerging managers. Since 2010, the pension fund has approved more than $1 billion in new commitments to emerging managers in private equity, real estate and global equity strategies and emerging managers who have transitioned to direct investments like Siris Capital, according to the news release.
A CalPERS spokesman could not immediately be reached for additional information.