The California Public Employees Retirement System has disclosed a $300 million commitment to Hellman & Friedman's $8.8 billion "VII" fund. The commitment is only its second commitment to private equity this year. As of November 6, CalPERS total assets were valued at $197.4 billion and its PE portfolio was valued at $22.8 billion. With 11.5% of its portfolio currently committed to private equity, CalPERS still has an estimated $500 million available for new PE fund investments to reach its target allocation of 14%.