BlackRock, Goldman Sachs among six bids to oversee CalPERS PE program

Calpers, private equity, pension fund, Goldman Sachs, BlackRock, AlpInvest, Hamilton Lane, HarbourVest, Neuberger Berman
Calpers headquarters is seen in Sacramento, California, October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker (UNITED STATES) - RTXPWO1
  • AlpInvest, Hamilton Lane, HarbourVest, Neuberger Berman also bid
  • CalPERS hopes to commit $7 bln to $10 bln in PE per year
  • Structure of partnership remains unclear
California Public Employees’ Retirement System received six bids in its solicitation of outside partners to help manage its private equity program. In addition to BlackRock, which was widely reported to be among the contenders, AlpInvest Partners, Goldman Sachs, Hamilton Lane, ...

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