CalPERS committed $5.7 billion to alternative investment strategies, the $439.5 billion pension plan reported.
The California Public Employees' Retirement System, Sacramento, committed $1.1 billion to Ares Capital Europe V, a European direct lending fund managed by Ares Management, and $1 billion to Blackstone Real Estate Debt Strategies IV, a real estate direct lending fund managed by Blackstone Group.
Pension fund officials committed $600 million to Thoma Bravo XIV, a buyout fund that targets large equity investments in software companies and technology enabled businesses.
CalPERS committed $500 million each to West Street Strategic Solutions I (C), a distressed debt fund and West Street Co-Investment Partners (C), both managed by Goldman Sachs Group. It also committed $500 million each to Top Castle Sidecar VII managed by Carlyle's AlpInvest, TCC Opportunities managed by TCC Capital and Nordic Bear SCSp managed by EQT.
Pension officials committed $300 million to TCV XI, a technology venture capital fund, and $239 million to Samson Partners, a private equity fund.