CalPERS committed 350 million euros ($434.7 million) to Bridgepoint Europe V in September, according to November investment committee meeting materials.
The California Public Employees’ Retirement System is also a limited partners in Bridgepoint Europe I, II, III and IV.
Bridgepoint Capital set a 3.5 billion euro target and 4 billion euro hard cap for its latest fund. Fund V reportedly held a first close on more than 2 billion euros, according to the Financial News. Bridgepoint Europe V will invest in European middle-market companies.