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Justin Mitchell

David Kessenich's death activated a key-person provision in the fund's terms, leading to a 120-day suspension period.
The $23.58bn pension recently proposed higher spending on PE in the next fiscal year, but is prepared for it to be less.
CVC Capital Partners VIII is targeting just under $19bn.
The request comes as recent public market volatility has caused the pension's value to drop over $3bn.
The increased estimated fees are due to greater commitments in the space, and do not include performance fees.
LPs may be better served to make sure they have liquidity elsewhere in their portfolio before making drastic changes to their private markets allocations.
The fund entered into its second co-investment vehicle with asset manager Neuberger Berman.
Avy Stein, Cresset Capital, opportunity zones
"The most important thing is to have a plan and stick with the plan. Nobody knows how this is going to play out. Let's not shoot all our bullets at one time.”
Yu Ben Meng, CalPERS CIO
The pension's portfolio has lost billions in value as the public markets have struggled due to the coronavirus pandemic.
The fund's strategy will focus on acquiring IP products in film, television, music and video games.
buyouts
buyouts

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