CalPERS Committs $100M To P.E. FoFs

Date: Wednesday, June 20, 2007
Author: FINalternatives

The $245 billion California Public Employees’ Retirement System is committing $100 million to newly formed Washington, D.C.-based emerging markets shop EMAlternatives.

EMAlternatives will focus on investing in firms that employ a variety of investment styles and strategies, including expansion capital, buyout financing, and venture capital throughout the global emerging markets. The firm will also invest in secondaries, co-investments and mezzanine financing opportunities.

“There’s huge investment potential in the emerging markets,” said Russell Read, CalPERS’ chief investment officer. “We have great confidence that EMAlternatives will help us access the best performing managers in the global emerging markets.”

EMAlternatives was founded in March by Ernest Lambers, Nicholas Morriss, John Stephens, Christopher Wright and Janivo Holding, a privately held investment company based in The Netherlands.

Lambers, recently head of emerging markets at AlpInvest Partners, is the firm’s CIO. Morriss and Stephens, founders of and former partners at Cape Point Capital, serve as managing partners. Wright, previously global head of private equity at Dresdner Kleinwort Benson, will chair the firm’s investment committee.