CalPERS committed about $4.4 billion to alternative investment strategies, the $463.9 billion pension plan reported.
California Public Employees' Retirement System, Sacramento, committed $1 billion to Hellman & Friedman Capital Partners X, a North America and Europe large-cap buyout fund. CalPERS also committed up to €750 ($913 million) to Whitney Global Partners, a private equity strategy managed by CVC Capital Partners.
CalPERS also committed $500 million each to Berkshire Fund X, a buyout fund managed by Berkshire Partners, and to Antares Credit Opportunities CA, a credit fund managed by Antares Capital Advisers. Pension officials also committed up to $379.4 million to Ares European Credit Investments VII and $147 million in Ares Private Opportunities 2020, a holding vehicle investing in funds managed by Ares Management Corp.
CalPERS also committted $200 million to NM Pacific, a private equity investment, and an additional $200 million to TPG Golden Bear Partners. CalPERS had made an initial investment in the private equity separately managed account in 2018.
CalPERS also committed $150 million to Genstar X Opportunities Fund I and $100 million to Genstar Capital Partners X, a middle-market buyout fund, both managed by Genstar Capital. Genstar's opportunity fund will co-invest in Fund X's larger transactions.
Pension officials committed $100 million to Bear Technology Fund, a venture capital fund with Technology Crossover Ventures, and $90 million to KKR Pebble Co-Invest, a co-investment with KKR & Co.
CalPERS also committed $50 million each to three co-investments: Onex North Star Co-Invest; RealPage Parent, alongside Thoma Bravo; and T-VIII Skopima Co-Invest, with Stone Point Capital.