US pension fund California Public Employees’ Retirement System (CalPERS) has committed a combined $1.3 billion to funds managed by private equity giant KKR & Co and Australian investment manager Queensland Investment Corporation (QIC).
In its quarterly update, CalPERS disclosed that it has committed $300 million to KKR Asian Fund IV, the fourth Asia-focused buyout fund of KKR. As of August, the fund had raised approximately $11 billion, making it the largest pan-Asia PE fund in the world.
