Have you considered Terracotta? Might be overkill: http://www.terracotta.org/web/display/orgsite/Data+Caching
There was a JSR in the area of caching a while ago, do any of the following fit the bill: http://java-source.net/open-source/cache-solutions/jcache ?
I personally used FKache a few years ago and it worked well, but I didn't use it in distributed mode.
Is it important that it's a distributed cache with local copies of data? There's also the JavaSpaces stuff if it's shared memory you need...