CalPERS committed more than $10 billion to alternative investments strategies in the first quarter, officials for the $463.6 billion pension fund reported.
The California Public Employees' Retirement System, Sacramento, committed $1.5 billion to Blackstone Real Estate Debt Strategies V-C, a global real estate direct lending fund managed by Blackstone. CalPERS also added an $1 billion to OHA CA Customized Credit Fund, L.P. - OHA Coinvest Opportunities Fund, a private credit strategy managed by Oak Hill Advisors. CalPERS had committed $1 billion to the co-investment fund in November.
CalPERS also committed $750 million each to Silver Lake Strategic Investors VI, a buyout fund managed by Silver Lake Partners, and Brookfield Infrastructure Fund V, an infrastructure fund managed by Brookfield Asset Management.
Pension fund officials committed $500 million to Thrive Capital Partners VIII Growth, a late- stage venture capital fund managed by Thrive Capital, and $500 million to DB SAF C Strategic Partners, a digital infrastructure strategy managed by DigitalBridge Group. Officials also committed $400 million each to Triangle Investment Opportunities, a private equity fund managed by real estate and private debt manager Triangle Capital Group, and California Innovation Opportunities, a venture capital fund managed by Andreessen Horowitz.
CalPERS committed $350 million to Mesa West Real Estate Income Fund V, a value-added real estate fund managed by Mesa West Capital, and $303 million to a private equity strategy, Orchard Park. Further information about the Orchard Park strategy could not be immediately learned.
Pension officials also committed $300 million to Crosspoint Capital Fund II, a buyout fund, and $241 million Crosspoint Capital VC SPV, a private equity fund. Both funds are focused on the cybersecurity, privacy and infrastructure software sectors and managed by Crosspoint Capital Partners.
CalPERS also committed $300 million to Patient Square Equity Partners,a healthcare private equity fund managed by Patient Square Capital, and $300 million to Moreton Bay SPV, a private equity strategy. Further information about the Moreton Bay SPV strategy could not be immediately learned.
CalPERS committed $300 million to Insight Partners XIII, a venture capital and growth equity fund; $200 million to Grandval II, a growth equity separately managed account; and $100 million Insight Partners XIII Growth Buyout Fund, a growth and expansion stage private equity fund, all managed by Insight Partners.
Pension officials also committed $300 million to GC Customer Value Fund II, $200 million to General Catalyst Group XI - Health Assurance, a healthcare fund, and $100 million to GC Venture XI (S), all venture capital funds managed by General Catalyst.
CalPERS likewise committed $250 million to Phoenix Bear Partners, a private equity strategy. Further information on Phoenix Bear Partners could not be immediately learned.
The pension fund also committed $200 million to TPG Tech Adjacencies II, a technology-focused venture capital and growth fund, as well as $200 million to Canaan XIII, an early stage venture capital fund, and $100 million to Canaan Gold Coast, a venture capital fund, both managed by Canaan Partners.
CalPERS committed $150 million to Bain Capital Tech Opportunities Fund II, a private equity fund focused on investing in technology and technology-enabled businesses primarily in North America; $150 million to Bain Capital Venture Co-investment Fund IV; and $150 to million Bain Capital Venture Fund 2022, all managed by Bain Capital.
CalPERS also pledged $100 million to Prysm Capital Fund I, the first fund of Prysm Capital, a growth equity firm investing in the technology, consumer and healthcare sectors; $95 million to Greenbriar Equity Fund VI, a buyout fund managed by Greenbriar Equity Group; $90 million to SR One Capital Fund II-A, a global private equity fund investing in life sciences companies managed by SR One Capital Management; and $50 million to Base10 Advancement Initiative II, a venture capital fund managed by Base10 Partners.
