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Louisiana State Employees earmarks $100 million for latest Apollo fund

Louisiana State Employees’ Retirement System, Baton Rouge, committed $100 million to Apollo Investment Fund IX, a buyout fund, said Laney Sanders, assistant chief investment officer, in an email.

The $10.7 billion pension fund has made numerous commitments to previous funds managed by Apollo Global Management, including Apollo Investment Fund VIII in 2013 and Apollo Investment Fund VII in 2007.

The pension fund’s target allocation to private equity is 14%; as of Dec. 31, the actual allocation was 13%.