PennSERS commits up to $50 million to private equity fund

Pennsylvania State Employees' Retirement System, Harrisburg, committed up to $50 million to LLR Equity Partners IV, a private equity fund managed by LLR Partners, confirmed spokeswoman Pamela Hile.

The $25 billion pension fund previously committed $30 million to LLR Equity Partners III in July 2008, $25 million to LLR Equity Partners II in January 2004 and $25 million to LLR Equity Partners in February 2000.

Alternatives investment consultant StepStone Group assisted.