CalPERS reported up to $10.4 billion in initial or additional commitments to alternative investment funds in the third quarter.
The $495.3 billion California Public Employees' Retirement System, Sacramento, committed an additional $2 billion to Tower Bridge Infrastructure Partners, a private equity infrastructure fund managed by Global Infrastructure Partners, an additional $1.6 billion to Golden Reef Infrastructure Trust, an existing separately managed account run by infrastructure manager QIC, and an additional $1.3 billion to CalEast Solstice, a real estate joint venture between CalPERS and GI Partners.
CalPERS also committed $750 million to Ares Senior Direct Lending Fund II, a direct lending fund managed by Ares Management; $630 million to Antares Credit Opportunities CA, a direct lending fund run by manager Antares Capital; and up to $600 million to Summit Partners Growth Equity Fund XI-A.
The pension fund committed an additional an additional $567 million to TechCore, an existing core real estate venture also with GI Partners investing in technology-related properties such as data centers; an additional $540 million to Institutional Logistics Partners, a real estate partnership with BentallGreenOak investing in core industrial properties.
CalPERS also committed $500 million to a joint venture with real estate manager DivcoWest.
Pension fund officials committed an additional $469 million commitment to Pacific Urban Investors' Pacific Multifamily Investors, an existing separate account that invests in apartments in big cities; and an additional $402 million to Harbert Gulf Pacific Power, an infrastructure separate account that is an existing partnership between CalPERS and Harbert Management.
CalPERS committed $375 million to Carlyle Partners VIII, a private equity fund aimed at investing in buyouts as well as making strategic minority investments in U.S. companies managed by Carlyle Group; and $250 million to Cedar Street Partners, a private equity fund focused in the U.S. and globally managed by Cedar Street Capital. CalPERS also committed $150 million to Arsenal Capital Partners VI, a buyout fund, and $50 million to Arsenal Capital Partners Growth, a growth equity fund, both managed by Arsenal Capital Partners.
The pension fund committed $100 million each to H.I.G. Europe Middle Market LBO Fund, A European middle-market buyout fund managed by H.I.G. Capital, and PSG Encore Warehouse, managed by Providence Strategic Growth.
