The California Public Employees' Retirement System, Sacramento, committed $325 million total to two buyout funds, according to board materials for CalPERS' investment committee meeting scheduled for Dec. 18.
The $345.1 billion pension fund committed $250 million to Carlyle Asia Partners V, managed by Carlyle Group, and $75 million to TPG Growth IV.
Both commitments were made by the investment staff in October using delegated authority that allows the staff to bypass the investment committee.
CalPERS has a $26 billion private equity portfolio.