CalPERS reported it committed about $5.7 billion to 14 alternative investment strategies.
The $491.8 billion California Public Employees' Retirement System, Sacramento, committed $1.4 billion to Berkeley Street Strategic Solutions and $500 million to Middlefield Road Private Opportunities Fund, private equity funds both managed by Summit Partners.
CalPERS committed $800 million to Blackstone BioMed Life Science Real Estate, a perpetual open‐end core-plus fund with a four‐year initial lockup period managed by the Blackstone Group.
CalPERS also committed $600 million each to KKR North America Fund XIII, a buyout fund managed by KKR & Co. and Insight Partners XII, a growth equity fund. It also committed $150 million to Insight Partners XII Buyout Annex Fund
Pension fund officials committed $500 million to Stone Point Capital's Trident Capital IX, a buyout fund focused on financial services.
Pension fund officials also committed $200 million to GranTain Co-Invest, a growth equity co-investment fund, and $100 million to Providence Strategic Growth V, both managed by Providence Strategic Growth. CalPERS also invested $177 million in Oak Hill Credit Opportunities CA, a hedge fund strategy managed by Oak Hill Advisors, and $174 million to LRC Fund I PNP Coinvest, a middle-market buyout co-investment strategy managed by LongRange Capital. The pension plan also committed $150 million to K5 Private Investors, a middle-market buyout fund managed by K1 Investment Management.
CalPERS also committed up to $100 million to Proofpoint Co-Invest Fund, a co-investment fund investing in cybersecurity and compliance company Proofpoint alongside software-focused buyout firm Thoma Bravo.
Finally, pension fund officials committed an additional $250 million to Grandval II, a separate account managed by growth equity specialist Insight Venture Partners. CalPERS originally committed $400 million to Grandval II in 2018.