Over the years, CalPERS has developed a number of unique investment strategies designed to target economically underserved segments of the State of California. In May 2001, the CalPERS Investment Committee established the California Initiative Program. Through the California Initiative, the CalPERS Investment Committee approved $475 million of commitments which were allocated to ten private equity funds and earmarked for investment in “traditionally underserved markets primarily, but not exclusively, located in California.” Through the California Initiative, CalPERS committed capital to nine private equity funds and one fund-of-funds. A complete list of California Initiative investment partners is provided on the back of this report.
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