FORTUNE — Last week we reported that The Blackstone Group (BX) was negotiating a custom managed account with the California Public Employees’ Retirement System (CalPERS), but details were scarce. Now the pension giant has posted materials for next week’s Investment Committee meeting, which lays out a few related details:
1. It appears that CalPERS has committed $500 million to the Blackstone custom managed account. I would assume that this is separate from the $500 million commitment CalPERS made to the most recently Blackstone private equity fund, and likely will include such things as real estate, public equities and other opportunistic investments.
2. CalPERS is formalizing its custom managed account program, with an upper commitment limit of $985 million. That is significantly less than the $2.5 billion custom account that the New Jersey Division of Investment signed with Blackstone, or the $2 billion deals that the Texas Teachers’ Retirement System signed by Apollo Global Management (APO) and Kohlberg Kravis Roberts & Co. (KKR).
3, CalPERS is changing the name of its “Alternative Investment Management” (AIM) program to simply “Private Equity” (PE). I guess it’s just semantic, but do wonder if it codifies the pension system’s reluctance to invest in venture capital funds.
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