University of Pennsylvania, Philadelphia, made new commitments to six...

University of Pennsylvania, Philadelphia, made new commitments to six venture capital funds to boost the private equity allocation for its $3.2 billion endowment fund and $500 million pension fund, which share investments and managers. Commitments total 8% to 9% of the funds’ combined assets; 1% of the assets is invested, said Naru Narvakar, managing director of investments. The commitments, funded from cash reserves, are: Kleiner Perkins X; Accel Partners VIII; Sierra Ventures VIII; TA Associates IX; Benchmark IV; and Benchmark Europe I. Mr. Narvakar would not release the amounts of the commitments to each fund.