Updated with correction
CalPERS committed a total of $1.9 billion to four alternative investment funds, documents released by the $376 billion Sacramento-based pension fund show.
The California Public Employees Retirement System committed €520 million ($577.5 million) to Permira VII, a fund that buys large companies managed by Permira Advisers, and $550 million to Advent International GPE IX, a buyout fund.
CalPERS officials also committed $500 million to Cerberus CAL III Partners (formerly Cerberus Global Private Equity Partners) managed by Cerberus Capital Management and $250 million to Lindsay Goldberg V, mid-to-large size company buyout fund managed by Goldberg Lindsay & Co.
CalPERS has previously invested with all of the managers.
Separately, CalPERS' investment committee is scheduled to select finalists in its search for up to four board investment consultants: general investment consultant, private equity, real estate and infrastructure. The firms under consideration are Meketa Investment Group and incumbent Wilshire Associates for general investment consultant; incumbent Meketa Investment Group and Verus Advisory for private equity consultant; incumbent Meketa Investment Group and RCLCO Fund Advisors for real estate; and incumbent Meketa Investment Group for infrastructure.
Wilshire's contract expires June 30, as does Meketa's private equity and infrastructure contracts. Meketa's real estate contract terminates March 31, 2022.
