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Opalesque Industry Update - The California Public Employees' Retirement System (CalPERS) has announced that it has committed $75 million to private equity firm Siris Partners. This is the first direct commitment to Siris, who has previously received commitments from CalPERS through the System's emerging manager fund-of-funds. "CalPERS is committed to emerging manager strategies," said Ted Eliopoulos, CalPERS Chief Investment Officer. "The transition from a fund-of-funds relationship to a direct relationship with CalPERS is the outcome we hope to see with our emerging manager programs." Siris will use the commitment to make private equity investments in middle-market technology companies in North America, with a focus on data storage and infrastructure, mobile data, smart phone and cloud computing sectors. Siris Capital is a private equity firm focused on making control investments in data/telecommunications, technology and technology-enabled business service companies in North America. The firm is headquartered in New York, New York. CalPERS has nearly $12 billion invested with 395 emerging managers. Since 2010, CalPERS has made more than $1 billion in new commitments to emerging manager strategies in Private Equity, Real Estate, and Global Equity, as well as commitments to individual emerging managers who have transitioned to direct investments.
CalPERS currently has approximately $294 billion in assets. CalPERS administers health and retirement benefits on behalf of 3,090 public school, local agency and state employers. There are more than 1.6 million members in the CalPERS retirement system and more than 1.3 million members in its health plans. |
Industry Updates
CalPERS commits $75m to emerging manager program firm Siris Partners
Friday, March 13, 2015
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