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Private equity giant TPG has picked up a $500m anchor commitment from CalPERS for its inaugural NEXT fund targeting the next generation of underrepresented alternative asset managers.
Calpers will invest $500 million each with TPG Inc. and GCM Grosvenor to help launch funds backing up-and-coming private equity firms.
The pension fund has partnered with two of its long-standing managers on the initiative.
Friends of the Children-Central Oregon (FOTCCO) announced today it has received a $220,000 grant award from the Wood Next Fund, to support its mission to break generational cycles of poverty through its long-term, professional mentoring program. The grant was matched dollar for dollar by the Central Oregon Health Council. "This gift from Wood Next Fund will be transformational for our program, and the youth and families we serve," said executive director Rachel Cardwell. "It will allow us to expand, not just in the number of youth we select into our program, but also our ability...