AlpInvest receives $500m from CalPERS

The US public pension has backed a global PE secondaries fund.

Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, United States
AUM: $421.59 billion
Allocation to alternatives: 19.6%

California Public Employees’ Retirement System has committed $500 million to AlpInvest Secondaries Program VII (ASP VII), according to a document from the pension’s November 2020 board meeting agenda.

As illustrated in the charts below, CalPERS has a strong appetite for diversified secondaries vehicles targeting regions around the world.

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