CalPERS invests USD 5.75bn in 3Q25 with Oak Hill, Blackstone leading

The California Public Employees’ Retirement System (CalPERS) closed private debt commitments totaling USD 5.75bn across seven investment vehicles during the calendar-based 3Q25, according to its 16 March meeting documents.

In addition, in 4Q25, CalPERS made three undisclosed private debt commitments and rejected five proposals. Another 12 proposals were under review, and three were in due diligence as of 31 December 2025.