Searches and Hires

CalPERS allocates $1.15 billion to 2 funds

Updated with correction

CalPERS committed $1.15 billion to two private equity funds, according to a recent report to the $360.3 billion pension plan.

The California Public Employees' Retirement System, Sacramento, committed $750 million to Blackstone Capital Partners VIII, a buyout fund managed by Blackstone Group. CalPERS has invested in multiple Blackstone funds in the past, including $500 million to Blackstone Capital Partners VII in 2016 and $350 million to Blackstone Tactical Opportunities Fund III-C in 2018.

Separately, CalPERS committed $400 million to Trident VIII, a buyout fund managed by Stone Point Capital. CalPERS has invested with Stone Point Capital in the past.