Justin Mitchell
CIO Tom Lopez said the new 14% PE target was "pretty ordinary" for pension systems these days.
The fund has already attracted investments from Arkansas Teachers and PA PSERS.
The firm has already closed on at least $6bn on the way to an $8bn target and $9bn hard-cap.
LPs keep emotion out of the picture as they evaluate opportunities and potential riptides in a volatile market.
So far, the fund has attracted big commitments from Kentucky Retirement Systems and New York State Teachers' Retirement System.
Corey Amon, director of the state's $75bn Division of Investment, says staff will hike the PE allocation gradually.
New Jersey will make its third investment in an Owl Rock vehicle, which will include its third stake in the firm.
Co-investments play a large role in the $246bn pension's 'Collaborative Model,' which seeks to bring more investment activities in-house.
Giannini told CalPERS that LPs appear to understand the importance of sticking to their plans in this crisis as opposed to previous downturns.
The $57.8bn pension's staff says they have $100m in dry powder left to co-invest this year and may ask for more.
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: