Fundraising

CalPERS becomes first investor in EMAlternatives

EMAlternatives has secured its first investment, with a $100 million commitment from the California Public Employees’ Retirement System. The private equity fund investment specialist attempts to offer global investors exposure to markets they have not invested in before.

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Californian pension fund California Public Employees’ Retirement System will become the first investor in recently formed emerging markets private equity fund investment specialist EMAlternatives, with a $100 million (€75 million) commitment.

CalPERS becomes EMAlternatives’ first client. The fund investment specialist, which was started earlier this year, offers services across all emerging private equity markets, with capabilities covering the full range of primary, secondary and co-investment strategies.

Its client can customise their commitments by country, region, sector and product preferences, as well as choosing the level of risk.

Founding partner Nicholas Morriss told PEO in March that he would not be surprised if the investment specialist had over $1 billion under management. The intention of EMAlternatives is to offer global investors exposure to private equity markets they have not entered before, he added.

In February, CalPERS committed $400 million for investments in emerging markets in eastern Europe, Latin America and Asia managed by Pacific Corporate Group Asset Management, a spin-out from California based Pacific Corporate Group.