CalPERS commits $290M, names CIO

The California Public Employees’ Retirement System (CalPERS) committed an additional $290 million to private equity last week. The public pension system also named an interim chief investment officer to replace Mark Anson, who announced last month that he was leaving to become the CEO of London-based fund manger Hermes.

At its investment committee meeting last week, CalPERS made the following three fund commitments:

* CalPERS committed $60 million to The Carlyle Group’s Carlyle/Riverstone Renewable Energy Infrastructure Fund I. The energy buyout fund has a target of $300 million and plans to invest between $20 million and $60 million in power generation companies that use renewable resources. The fund held a first close in September with $170 million and expects a final close next month. CalPERS made the commitment from its $200 million Environmental Technology Program.

* The investment committee allocated $180 million to Newbridge Asia IV, a $1.5 billion buyout fund focused on Asian investments in consumer companies, financial services and health care. Fort Worth, Texas-based Newbridge Capital is raising the fund, which will make between 10 and 15 investments of between $75 million to $200 million each. The fund held a $1.3 billion close last month and CalPERS says the firm is targeting a final close “in the coming weeks.” Newbridge Asia III closed in 2001 with $723 million, according to Thomson Financial (publisher of PE Week).

* CalPERS committed $50 million to Oaktree Capital Management’s OCM Opportunities Fund VI, which had a final close of more than $1.77 billion in October. The fund will invest in distressed middle-market companies in the United States, Europe and Japan. OCM Opportunities Fund V closed in 2004 with $1.2 billion.

Separately, CalPERS named Anne Stausboll as its interim chief investment officer. The CIO works closely with the board to set investment strategy and oversee the fund’s external managers. Stausboll had been the assistant executive officer of CalPERS investment operations since last year. She previously served in the pension system’s legal department including serving as deputy general counsel. She previously was general counsel for California’s treasurer and served as deputy treasurer.

The California Public Employees’ Retirement System (CalPERS) committed an additional $290 million to private equity last week. The public pension system also named an interim chief investment officer to replace Mark Anson, who announced last month that he was leaving to become the CEO of London-based fund manger Hermes.

At its investment committee meeting last week, CalPERS made the following three fund commitments:

* CalPERS committed $60 million to The Carlyle Group’s Carlyle/Riverstone Renewable Energy Infrastructure Fund I. The energy buyout fund has a target of $300 million and plans to invest between $20 million and $60 million in power generation companies that use renewable resources. The fund held a first close in September with $170 million and expects a final close next month. CalPERS made the commitment from its $200 million Environmental Technology Program.

* The investment committee allocated $180 million to Newbridge Asia IV, a $1.5 billion buyout fund focused on Asian investments in consumer companies, financial services and health care. Fort Worth, Texas-based Newbridge Capital is raising the fund, which will make between 10 and 15 investments of between $75 million to $200 million each. The fund held a $1.3 billion close last month and CalPERS says the firm is targeting a final close “in the coming weeks.” Newbridge Asia III closed in 2001 with $723 million, according to Thomson Financial (publisher of PE Week).

* CalPERS committed $50 million to Oaktree Capital Management’s OCM Opportunities Fund VI, which had a final close of more than $1.77 billion in October. The fund will invest in distressed middle-market companies in the United States, Europe and Japan. OCM Opportunities Fund V closed in 2004 with $1.2 billion.

Separately, CalPERS named Anne Stausboll as its interim chief investment officer. The CIO works closely with the board to set investment strategy and oversee the fund’s external managers. Stausboll had been the assistant executive officer of CalPERS investment operations since last year. She previously served in the pension system’s legal department including serving as deputy general counsel. She previously was general counsel for California’s treasurer and served as deputy treasurer.