The $342 billion California Public Employees’ Retirement System (CalPERS) has committed $500 million to an emerging manager fund of funds managed by GCM Grosvenor.
GCM Grosvenor is the manager of two other private equity emerging manager fund of funds for CalPERS, totaling more than $350 million, GCM Grosvenor DEM II and GCM Grosvenor DEM I.