California Public Employees' Retirement System A big investor in private equity, the nation's largest pension fund has found itself in awkward situations at times. CalPERS, a Clear Channel shareholder, has said it will reject a $19 billion takeover bid for the company. At the same time, it's invested in Thomas H. Lee Partners, half of the buyout duo pursuing the radio station broadcaster. Assets under management: $230.3 billion Allocation to private equity: $35 billion % of assets to private equity: 15% Data source: Private Equity Intelligence
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