Sun, Aug 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

CalPERS to launch new investment vehicle for local emerging managers

Tuesday, July 12, 2011

Real Desrochers
Opalesque Industry Update – The California Public Employees’ Retirement System has announced plans to launch a new investment vehicle that will focus on domestic emerging managers aimed at pension fund’s private equity program.

Réal Desrochers, Senior Investment Officer for CalPERS’ Alternative Investment Management Program said: “Through the manager, we’re looking for partnerships whose principal officers have individual experiences and underlying investment strategies to generate earnings in the top quartile of private equity investments. This entails partnerships or direct investments, deal sourcing, analyzing, screening, due diligence, negotiating and closing transactions, monitoring and exiting investments.”

Desrochers said CalPERS has initiated a Request for Information process to cast a wide net for a vehicle that is structured as a customized fund-of-funds to invest in partnerships that may be under-capitalized.

It added that the partnership is expected to generate a sizeable potential for superior risk-adjusted rates of returns for CalPERS AIM program.

CalPERS said it is hoping to establish a long-term relationship with managers who will invest on behalf of the pension fund for a duration between seven and ten years across the private equity spectrum, including venture capital, expansion capital and leverage buyout transactions.

The new investment vehicle will supplement other emerging manager portfolios in the AIM Program to diversify investments and generate added profits by partnering with managers and funds. It is hoped that eventually, the managers will join the core AIM lineup of partners and funds.

Interested parties wanting to participate in the program can submit their intentions by completing a submission form that can be downloaded on the CalPERS website at www.calpers.ca.gov until July 25.
Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Strategies - The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I, Hedge funds get more pushback on terms as enthusiasm for strategy wanes[more]

    The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I From IBTImes.co.uk: To illustrate a strategic gap common to today's portfolio managers, George Sokoloff, PhD, founder and CIO at Carmot Capital, proposes an interesting thought experiment – a breakdown of

  2. Institutional investors - Investors set to increase allocation to private debt, With investment income key, Richmond retirement system faces funding challenges[more]

    Investors set to increase allocation to private debt Investors are set to increase their allocation to private debt, with 60% revealing they believe the private debt market will grow over the next 12 months, according to a new study by Elian, a leading funds services provider. 41%

  3. Investing - Hedge funds snap up banks, unload Apple, Some of hedge funds' favorite stocks are finally starting to beat the market, Einhorn's Greenlight shifts positions, Treasury yield climbs to two-month high as Fischer joins hawks, 9 stocks smart investors put their money in last quarter[more]

    Hedge funds snap up banks, unload Apple From Barrons.com: Prominent hedge funds have a newfound love of big banks, and some have a distaste for shares of Apple, regulatory filings released last week show. The filings suggest that the funds have been pivoting their portfolios in recent mon

  4. Chesapeake energy seeks $1 billion loan to refinance debt[more]

    From Bloomberg.com: Chesapeake Energy Corp. is seeking a $1 billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9 billion debt load. The natural gas producer hired Goldman Sachs Group Inc., Citigroup Inc. and Mitsubishi UFJ Financial Group

  5. Institutions - Nordic pension funds magnify focus on unlisted and direct investing, building up teams[more]

    From IPE.com: As bond yields remain at low or negative levels, pension funds and other institutional investors in the Nordic region are stepping up efforts to find higher returns by adding more unlisted investments to portfolios and are expanding in-house teams in order to do this, according to new