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Alternative Market Briefing

CalPERS to allocate another $200m for high-potential emerging manager funds

Tuesday, March 18, 2014

Komfie Manalo, Opalesque Asia:

The California Public Employees' Retirement System (CalPERS), the largest public pension fund in the U.S. with more than $280bn in assets, said it would utilize fund-of-funds to allocate a fresh $200m that focuses on high-potential emerging manager funds.

CalPERS said in a statement the new capital would be an expansion of its emerging manager program in the Private Equity asset class. "This new allocation is a reflection of CalPERS ongoing commitment to emerging and diverse managers," said Ted Eliopoulos, CalPERS Interim Chief Investment Officer. "Our goal is to generate appropriate, risk-adjusted investment returns by identifying early stage funds with strong potential for success."

The new allocation will be deployed over four years and is in addition to a $100m commitment made in 2012. The selection of a manager to head the fund-of-funds will be completed by CalPERS investment staff later in the year.

CalPERS has a legacy of leadership and innovation in emerging investment strategies, and has been investing with emerging managers directly and through fund-of-funds for more than 20 years. In 2012, CalPERS adopted the Emerging Manager Five-Year Plan – Pathway to the Future (the Plan), which provides a strategic framework to guide CalPERS investments and engagement w......................

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