Here’s an interesting article from over at PEHub concerning the changes in CalPERS’ private equity fund holdings between the end of year 2007 and end of the first half of 2008. Dan Primack noted that there were 96 funds listed in the prior report that didn’t make the new list. To all of us keeping score at home, this means that CalPERS divested over 25% of its private equity fund investments between the end of 2007 and the end of Q2 2008 (Dan notes that this does not include 2008-vintage funds or the California Emerging Ventures portfolios). The vast majority of these disposed of investments ended up as part of a record breaking year for secondaries.
PEHub put together a handy little spreadsheet comparing CalPERS’ private equity fund holdings between the end of 2007 report and the end of Q2 2008 report. They’ve indicated funds from the old report in red, while funds from the new report are in black. If you see a red one without a corresponding black one, that means it’s no longer a CalPERS holding: