CalPERS Commits $400 million to CCP

CalPERS has committed $400 million to Centinela Capital Partners, which will oversee a new private equity fund-of-funds for emerging managers. The managers will be from across the private equity spectrum, including venture capital, expansion capital and leveraged buyouts. Centinela was founded by Cesar Baez, previously with Deutsche Bank Asset Management and a former head of alternative investments for the State of New Jersey.