Pennsylvania State Employees’ Retirement System, Harrisburg, committed another $100 million to the Horizon Impact Fund, a customized private equity fund of funds managed by HarbourVest Partners, confirmed Pamela Hile, spokeswoman for the $26 billion pension plan.
In 2013, the PennSERS board committed $50 million to the Horizon Impact Fund, with the system as the sole limited partner.
The Horizon Impact Fund focuses on private equity funds with capitalizations of $500 million or less in the U.S. lower middle market.
The board also approved an amendment to the general investment consulting service contract with RVK Inc. to include consulting services related to the system’s hedge fund holdings and other less liquid strategies.
The commitment was approved Wednesday at the pension fund’s board meeting.