May 17, 2018 / 4:43 PM / 9 days ago

BRIEF-CalPERS Unveiles Two New Strategic Business Models For Its Private Equity Program

May 17 (Reuters) - California Public Employees’ Retirement System (CalPERS):

* CALPERS UNVEILES TWO NEW STRATEGIC BUSINESS MODELS FOR ITS PRIVATE EQUITY PROGRAM

* CALPERS SAYS NEW STRATEGIC BUSINESS MODELS WOULD CREATE A NEW AND SEPARATE ENTITY KNOWN AS CALPERS DIRECT TO MAKE DIRECT PRIVATE EQUITY INVESTMENTS

* CALPERS SAYS CALPERS DIRECT WOULD CONSIST OF TWO SEPARATE FUNDS AND WOULD BE GOVERNED BY SEPARATE, INDEPENDENT BOARD

* CALPERS SAYS ONE OF THE FUNDS THAT CALPERS DIRECT WOULD CONSIST OF WOULD FOCUS ON LATE-STAGE INVESTMENTS IN TECHNOLOGY, LIFE SCIENCES, AND HEALTHCARE

* CALPERS SAYS THE TWO SEPARATE FUNDS THAT CALPERS DIRECT WOULD CONSIST OF WOULD OPERATE ALONGSIDE CALPERS’ EXISTING PRIVATE EQUITY STRUCTURE

* CALPERS SAYS PLANS CALL FOR CALPERS DIRECT TO LAUNCH IN H1 2019, FOLLOWING FINAL REVIEW AND APPROVAL BY THE BOARD Source text: (bit.ly/2Ip3VWe)

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