Sunday, 28 December 2014
Last updated 4 days ago
Sep 19 2007 | 2:18pm ET
The $34 billion Pennsylvania State Employees’ Retirement System last week approved six private equity commitments totaling some $181 million.
PA SERS’ board approved follow-on investments of up to up to $10 million to Avenue Special Situations Fund V in addition to a previous $60 million commitment, up to $100 million in aggregate to Bain Capital Fund X and Bain Capital X Coinvestment Fund, up to $25 million to Ignition Venture Partners IV, up to $1.2 million to purchase a secondary interest in Meritech Capital Partners II in addition to a previous $24.6 million commitment to the same fund, and up to $25 million to TPG Asia V.
Finally, the board also committed up to $20 million to Segulah IV.
The private equity investments will be funded from cash as part of PA SERS’ long-term investment plan.
Also, the board has agreed to hire Credit Suisse Securities Customized Fund Group to help its investment staff in managing PA SERS’ private equity/venture capital investment portfolio.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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