Calpers Gets Better Returns From Hellman & Friedman Than Carlyle, Madison
October 02, 2006
Oct. 2 (Bloomberg)—Anyone who wants to know who’s the best in the secretive world of leveraged buyouts can obtain the answer from the California Public Employees’ Retirement System, the largest pension fund among states and municipalities.
Calpers, which invests $208 billion for the 1.5 million of firemen, policemen, teachers and civil servants who work for the equivalent of the eighth-biggest country measured by gross domestic product, got better returns from Hellman & Friedman LLC than Texas Pacific Group, Carlyle Group, Madison Dearborn Partners LLC and 26 other private-equity funds in which it invested in 2000, the Sacramento, California-based pension fund said on its Web site.
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