The California Public Employees’ Retirement System last week upped its commitment to the Central Valley Fund to $40 million. Previously, in 2004, it agreed to a $10 million commitment.
The Valley Fund, which had closed on $80 million in December, targets companies that are at least five years old, booking $5 million to $50 million and which are based in Stockton, Modesto, Fresno or Bakersfield, Calif.
The fund is administrated by the principals of Gael Partners: Daniel Jessee, José Blanco, Brad Triebsch, Todd Stemler, Brian Woodall and Bill Henderson. The fund has not announced any investments. —Alexander Haislip