CalPERS Enters Environmental Technology Market - Fund Commits Up To $15 Million To California-based, Cleantech Venture Fund

The California Public Employees’ Retirement System (CalPERS) announced yesterday it has committed up to $15 million to NGEN Partners, LLC, a Santa Barbara, California-based venture capital firm that targets early-stage investments in the materials and enabling technologies sectors.

NGEN marks the first investment for CalPERS’ Environmental Technology Program, an effort launched last year to place $200 million in firms that invest in environmental technology solutions.

With this fund, NGEN will invest in businesses that create new advanced polymers and plastics, energy and environmental technologies, and advanced displays and electronic technologies.

“NGEN has a proven track record of supporting companies that are developing environmentally friendly products such as more efficient catalytic converters, improved solar power platforms, wastewater treatments, and ‘smart’ fabrics that detect disease,” said Mark Anson, CalPERS Chief Investment Officer. “We’re pleased to be able to break new ground in this emerging cleantech sector. We believe NGEN promises attractive long-term investment returns.”

The pension fund is evaluating a number of technology investments in the environmental and cleantech market.

“The NGEN venture is a good start for our private equity Environmental Investment Program, which focuses on such renewable energy resources as wind and solar generators, hydrogen fuel cells, desalination, and the recycling of water and used materials,” said Leon Shahinian, Senior Investment Officer for CalPERS Alternative Investment Management Program.

CalPERS is the nation’s largest public pension fund with assets totaling more than $181 billion and serving more than 1.4 million public employees, retirees, and their families. For more information about CalPERS, please visit www.calpers.ca.gov.