CalPERS Awards Alternative Investment Management Consultant Contracts.SACRAMENTO Sacramento, city, United States Sacramento (săkrəmĕn`tō), city (1990 pop. 369,365), state capital and seat of Sacramento co., central Calif. , Calif.--(BUSINESS WIRE)--Aug. 20, 1997--The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees' Retirement System (CalPERS CalPERS California Public Employees' Retirement System ) has chosen Hamilton Hamilton, city, Bermuda Hamilton, city (1990 est. pop. 3,100), capital of Bermuda, on Bermuda Island. It is a port at the head of Great Sound, a huge lagoon and deepwater harbor protected by coral reefs. Lane Advisors and Pacific Corporate Group as consultants for the System's $2.7 billion Alternative Investment Management (AIM) Program. Hamilton Lane Advisors (HLA HLA human leukocyte antigens. HLA abbr. human leukocyte antigen HLA (human leuckocyte antigen) ) will serve as the primary consultant for the partnership component of the AIM program that includes investment commitments in 84 partnerships totaling approximately $5.5 billion, of which $2 billion has been invested. HLA will also serve as the primary consultant for the co-investment portion of the direct component of the AIM program. Pacific Corporate Group will serve as the consultant for the independently sourced portion of the direct component with current investments of approximately $500 million. "These firms will help us advance our AIM program strategy and capture high returns for the System," said Charles P. Valdes, chair of CalPERS Investment Committee. Last year, CalPERS reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. the way it invests in the private equity market by consolidating its three alternative investment and private programs into the AIM program. The AIM program is designed to streamline CalPERS internal investment process to allow the System to react quickly to market opportunities, and calls for a continuation of profitable general partnerships and a substantial expansion of direct investments. CalPERS expects to commit $500 million to $1 billion a year to new direct investments and $1 to $1.5 billion a year to partnerships. The alternative investment consultant contracts are subject to negotiations of satisfactory fees and conditions. CalPERS is the nation's largest public pension fund managing assets totaling more than $119 billion. The System provides retirement and health benefits to more than one million public employees and their families. CONTACT: CALPers, Office of Public Affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. Brad Pacheco/Pat Macht, 916/326-3991 www.calpers.ca.gov |
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