CalPERS committed a total of $8.45 billion to alternative investments, according to a report to the board of the $402.9 billion Sacramento-based pension fund.
The California Public Employees' Retirement System's staff under its discretion committed $2 billion to West Street Strategic Solutions Fund I, a distressed debt fund managed by Goldman Sachs Group; and $1.5 billion to LongRange Capital Fund I, a middle-market private equity fund.
CalPERS also committed $1.15 billion to TSSP Adjacent Opportunities Partners (B), an evergreen opportunistic multiasset class alternative investment fund; and $350 million to Sixth Street Fundamental Strategies Partners (A), an opportunistic credit fund, both managed by Sixth Street Partners.
Pension officials also committed $600 million to New Mountain Partners VI, a buyout and growth investment fund managed by New Mountain Capital.
CalPERS committed $500 million each to Forecastle, a sustainable forest general partnership; and AlpInvest Secondaries Fund VII, an alternative investment secondary market fund run by Carlyle Group's AlpInvest Partners.
CalPERS also committed $500 million each to Oaktree Gilead Investment Fund Series A and Oaktree Gilead Investment Fund Series B, two series of a private equity fund managed by Oaktree Capital Management.
CalPERS also committed $200 million each to BDC IV D, a pan-European private equity fund managed by Bridgepoint Advisers; and TPG Growth V, a growth fund.
CalPERS committed $50 million to Wigmore Street BDC IV Co-Investment No. 1, a pan-European lower-middle-market buyout fund, also managed by Bridgepoint.
Pension officials made two follow-on commitments: $350 million to Blackstone Tactical Opportunities Fund III – C Surge, a multiasset class alternative investment fund managed by Blackstone Group; and $50 million to GCM Grosvenor DEM III.
