In recent months, the California Public Employees’ Retirement System (CalPERS) committed $500 million to Infra Bear Partners, a vehicle managed by GenPar Advisors, according to meeting materials. A fundraising goal has not been determined.
In first quarter 2025, CalPERS also committed $500 million to infrastructure via Coastal Oak Infrastructure Partners.
CalPERS had $21.1 billion in total infrastructure assets, as of Aug. 31, with $572.1 billion in total assets under management. Within infrastructure, the public pension fund allocates 30.1 percent to transportation, 21.5 percent to data infrastructure, 21.1 percent to utilities, 15.1 percent to renewable power, 5 percent to conventional power, 3.1 percent to energy, 3.1 percent to other, 0.5 percent to environmental services and 0.4 percent to social infrastructure.
