The California Public Employees' Retirement System has committed $400m to Centinela Capital Partners, which will oversee a new private equity fund of funds for emerging managers. The managers plan to make investments across the private equity spectrum, including venture capital, expansion capital and leverage buy-out transactions.
‘This venture with Centinela will enable us to seize new market opportunities created by significant population developments at the state and national levels,’ said Fred Buenrostro, CalPERS chief executive officer. ‘We believe we can gain a competitive advantage by investing in emerging managers who bring fresh insights in how to generate returns in the market.’
Centinela was founded by Cesar Baez, previously with Deutsche Bank Asset Management and a former head of alternative investments for the State of New Jersey Division of Investments. Centinela will operate out of offices in California and New York.
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