CALPERS Commits $1B to Private Equity

The California Public Employees’ Retirement System has disclosed two private equity investments totaling up to $1 billion.

$500 million was committed to growth equity fund, TPG Next (A).

$500 million was also allocated to the GCM Grosvenor Elevate Fund I, a private equity fund of funds. 

As of June 30, 2022, the $440 billion Retirement System has an actual and target allocation to private equity of 12% and 8% respectively. 

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