Mon, Sep 22, 2014
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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali