Thursday, 31 July 2014
Last updated 1 hour 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…