PA SERS Makes Follow-On Private Equity Investments

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. 


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note