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CalPERS Allocates $500 M to Under-Served Areas of Calif

Monday, October 23, 2006 9:30:00 AM PDT | VentureDeal Staff

SACRAMENTO, CA --

CalPERS, the nation's largest public pension fund has decided to focus up to $500 million in California's rural and urban areas that are under-served by existing investors.

The funds will be evenly divided between directly investing in companies and investing in California-based venture investment firms with a mandate to focus on traditionally under-served market areas.

Investment manager Hamilton Lane Company in San Francisco won the contract to handle the funds in a competitive bidding process that included 18 other investment firms.

Hamilton Lane manages over $50 Billion from institutional investors throughout the US, Asia and Europe.

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