CalPERS committed a total of $6.8 billion billion to alternative investments, the $519.9 billion pension fund reported.
The California Public Employees’ Retirement System, Sacramento, committed a total of $2 billion to Lincoln Plaza Fund, a private equity vehicle managed by Redbird Capital Partners. The commitment was made up of an initial $800 million in April and another $1.2 billion in May.
The pension fund committed $1.2 billion to Sixth Street Madrone Strategic Holdings I–Series 2 and $300 million to Sixth Street Madrone Strategic Holdings I–Series 1.
CalPERS made a follow-on commitment of $1 billion to Ares Senior Direct Lending Fund III, a direct lending fund managed by Ares Management. CalPERS originally committed $1.3 billion to the Ares fund in August 2023, according to the pension fund’s March report.
Pension fund officials also made a follow-on commitment of $550 million to CA1 SPV, a fund managed by Hg Capital, a private equity firm that invests in technology companies. CalPERS initially committed $650 million in 2023.
CalPERS committed $350 million to West Street LP V Co-Investment Partners (C) a private debt vehicle managed by Goldman Sachs Asset Management. The pension fund also also made a follow-on commitment of $300 million to CA Co-Investment, a private equity fund managed Advent International. CalPERS had originally committed $1 billion to the fund in 2022.
CalPERS committed $250 million to LS Investments C, a private equity vehicle managed by LS Investments. The pension fund also made a follow-on commitment of $280 million to Triangle Investment Opportunities, a private equity fund managed by real estate and private debt manager Triangle Capital Group; the pension fund initially committed $400 million in 2023. And CalPERS also made a follow-on commitment of $250 million to California Partners, a private equity vehicle managed by Leonard Green & Partners, after an initial $350 million commitment to the strategy in October 2020.
CalPERS committed $350 million to Redwood Opportunities, a private equity fund managed by Permira.
