California Public Employees’ Retirement System (CalPERS), the largest US pension fund that is also a limited partner (LP) for a few Indian PE firms, on Thursday announced that it will create a new entity, CalPERS Direct, to make direct private equity investments. CalPERS joins a slew of global LPs that have active direct investments’ programmes across geographies, including India. Several LPs in India including UK’s CDC and Canadian pension funds, besides a clutch of sovereign funds, have direct investments in Indian companies as well as have a fund-of-funds exposure to…Read More
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