CalPERS committed $270 million to Trident VII, a buyout fund, according to an investment disclosure prepared for the pension fund's Dec. 19 investment committee meeting.
The fund is managed by Stone Point Capital and focuses on investments in the financial services sector. The investment staff of the $303.6 billion California Public Employees' Retirement System, Sacramento, made the commitment in October using its delegated authority, the investment disclosure said.
CalPERS has $26.4 billion in private equity fund investments and another $13.7 billion in dry powder.
