CalPERS committed a total of $605 million to four alternative investment funds in the fourth quarter, according to a report to the investment committee.
The $479.6 billion California Public Employees' Retirement System, Sacramento, committed $300 million to Tiger Global Private Investment Partners XV, a venture capital fund managed by Tiger Global Management.
Pension officials also committed $155 million to Permira Growth Opportunities II, a growth equity fund, and $100 million to BRV Lotus Fund III, a developed Asia growth equity fund managed by BlueRun Ventures.
CalPERS also committed $50 million to Dragoneer Opportunities Fund VI, a growth equity fund managed by Dragoneer Investment Group.
In all, CalPERS completed 34 commitments totaling $7.5 billion in the second half of 2021 and 58 commitments totaling $12.3 billion in all of 2021. Commitments made through the third quarter were previously reported. Staff also made 11 co-investments in the second half of 2021, the report showed.
Staff has been focusing on increasing the system's $49 billion private equity portfolio's exposure to growth equity and mid-size buyout investments, the report said.
