
Newsmakers
CalPERS Commits $1 Billion to Boost Diversity Among Alts Managers
The pension giant is investing $500 million in both TPG’s Next Fund and GCM Grosvenor’s ‘Elevate’ strategy.
Backed by members of both parties, the measure aims to allow greater range of investments in defined contribution plans.
Investors will need help hitting even reduced target returns in the coming years, says Goldman Sachs report.
New allocation adds to WSIB’s already outsized allocation to these assets, which has helped cushion it amid equity market turbulence.
Equity holdings fall by 22% in 20 years as pensions turn to alts in search of alpha.
The alternative asset class investor is said to be gearing up for an upcoming public offering.