<article><a href="https://www.dealstreetasia.com/tag/CalPERS">CalPERS</a>, the largest US pension fund, has committed $300 million to the new Asia-focused fund of global buyout firm <a href="https://www.dealstreetasia.com/tag/TPG">TPG Capital Management</a>, according to a disclosure.</article>

<a href="https://www.dealstreetasia.com/tag/CalPERS">CalPERS</a>, the largest US pension fund, has committed $300 million to the new Asia-focused fund of global buyout firm <a href="https://www.dealstreetasia.com/tag/TPG">TPG Capital Management</a>, according to a disclosure.
TPG Capital is reportedly aiming to raise more than $4 billion for a new Asia-focused fund, TPG Asia VII, in what would be its biggest for the region. Its previous Asia fund, TPG Asia VI raised $3.3 billion in 2014.
The PE firm is set to gain additional exposure to the Asian market after it took a minority stake in NewQuest Capital Partners, a secondaries private equity firm focused on the Asia-Pacific region, earlier in May.
CalPERS&#8217; contribution to TPG Asia VII follows other recent Asia-focused commitment by pension funds. The Canada Pension Plan Investment Board (CPPIB) recently hiked its exposure to Asian private equity by nearly 27.8 per cent to C$17.1 billion ($13.3 billion) in the year ended March 2018, according to its annual report, while South Korea’s Public Officials Benefit Association (POBA), a local pension fund for government officials, has announced plans to allocate $150 million to private equity vehicles this year, with Asia being one of its target markets.
Apart from committing to the TPG fund, CalPERS has also approved a capital commitment of €300 million ($353 million) to Carlyle Europe Partners V.
Calpers, which reportedly manages a $40 billion private equity portfolio, recently also announced that it is set to make private equity investments through a new and separate entity known as CalPERS Direct, which will pour as much as $13 billion a year into non-public companies.
The new entity will consist of two separate funds: one focusing on late-stage investments in technology, life sciences, and healthcare, while the other on long-term investments in established companies. These would operate alongside CalPERS&#8217; existing private equity structure that typically invests in co-mingled private equity funds.
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CalPERS, the largest US pension fund, has committed $300 million to the new Asia-focused fund of global buyout firm TPG Capital Management.

CalPERS commits $300m to TPG's latest Asia buyout fund

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CalPERS commits $300m to TPG's latest Asia buyout fund

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