US - CalPERS has committed US$50m to Advent Latin American Private Equity Fund III, LP, which invests primarily in companies in Mexico, Brazil, and Argentina.
The news comes after CalPERS planned to invest $3bn per year into private equity to maintain a 6% weighting.
The Fund will make buyout, growth equity, recapitalisation, and restructuring investments in profitable countries in the region’s emerging and established markets.
It is currently invested in 25 companies with a combined enterprise value of more than $1bn.
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