FT reported:
Calpers, the biggest US public pension plan, is considering bigger bets on private
equity despite growing fears that higher interest rates will curb the industry’s returns.Chief executive Marcie Frost said that the $442bn-in-assets retirement fund, one of
the world’s biggest investors in private equity, will start an extensive review of its
holdings in this sector next month, adding that there is “appetite” to increase its
allocation.“If we [the Calpers board] had conviction that we could put more money into private
equity, the appetite is there to do it from an investor perspective [and] from the
investment office’s perspective.”
CalPERS has $52 billion in private equity underwriter (PEU) investments.
Fortune reported Kim Kardashian's SKKY Partners is raising $1 billion for their brand new PEU.
Both CalPERS and SKKY have Carlyle Group connections. CalPERS was an early equity investor in Carlyle so it should know the PEU world from the inside. It exited in 2013 after Carlyle went public.
SKKY Partners has former Carlyle Managing Director Jay Sammons on board. Will CalPERS put any of its increased PEU investments into Kardashian's SKKY? Time and actual disclosures will tell.
