Firms & Funds

CalPERS sets $200 mln more for emerging managers

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  • New capital to be deployed over four years
  • No word on buyouts, VC allocations
  • Pension has active emerging managers program

CalPERS has allocated $200 million more to its $12 billion emerging manager program.

The new capital will be deployed by a new fund of funds over four years, the California Public Employees’ Retirement System said March 17 in a prepared statement. CalPERS expects to name a manager to head the fund of funds later this year.

The pension fund did not specify how the FoF will divide the money between emerging managers in venture capital and private equity.

The new allocation follows a $100 million commitment CalPERS made to emerging managers in 2012.

CalPERS said it has nearly $12 billion invested with 395 emerging managers across all of its emerging manager programs. It is the largest pension fund in the country, with more than $280 billion in assets under management.