CalPERS has allocated $200 million more to its $12 billion emerging manager program. The new capital will be deployed by a new fund of funds over four years, the California Public Employees’ Retirement System said Monday.
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New York City Public Pension Funds marked its largest commitments yet to private equity via marquee funds from Apollo Global Management and CVC Capital Partners. It was part of an overall $1.3 billion series of pledges by the $137 billion retirement system that also included first-time commitments to several emerging managers.
Trying to counter claims aired at a recent state Senate hearing, Joe Dear, chief investment officer of the California Public Employees’ Retirement System, wrote a letter to the hearing chairman saying he was “troubled by testimony that questioned our commitment and intentions” with regard to emerging managers – investment firms that are often managed by women and minorities.
