The California Public Employees’ Retirement System (Calpers) is setting up its own $700 million fund to invest in the healthcare industry.

Working in concert with Health Evolution Partners, Calpers will put $500 million toward the Healthcare Investment Initiative for co-investments and direct investments in healthcare companies, and $200 million will go into private equity funds and strategic joint ventures that are focused on healthcare.

Calpers is the largest pension fund in America.

The California Public Employees’ Retirement System, the largest pension fund in the US, has launched a $700m (€517.4m) fund to invest in companies in the healthcare sector in a joint agreement with a private equity firm.

Calpers is working with private equity healthcare investor Health Evolution Partners, a newly formed firm led by Dr. David Brailer, a former national coordinator for Health Information Technology.

(Continue reading this story on Financial News Online US)

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