Pacific Corporate Group International, a global fund managed by Pacific Corporate Group, has received a further investment of $400 million from the California Public Employees’ Retirement System.
The fund will be investing in India, China, Japan, Central Europe, Latin America and Africa and a significant portion will include investment in real estate. The fund is believed to already have invested at least $100 million in real estate projects in India, with a focus on the hospitality sector.
Since entering India in 2004 CalPERS, the largest public pension fund in the US, has invested more than $1 billion in Indian equities. The pension fund is now registered as a Foreign Institutional Investor in India. In a statement CalPERS said the new fund would invest in parterships through a combination of venture capital, buyouts and acquisition financing, growth and expansion capital and mezzanine financing.
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