Pennsylvania State Employees' Retirement System, Harrisburg, hired Bernstein Investment Research & Management and Rexiter Capital Management to run up to $100 million each in active emerging markets equity portfolios, according to Sean Sanderson, spokesman. Lloyd George Management was the other finalist in the search. Funding came from cash. Rocaton Investment Advisors assisted.
In addition, the $26.8 billion pension fund committed up to $25 million to Fillmore East Fund and $20 million to Chrysalis Capital Partners. It also made follow-on commitments of up to $30 million to Sterling Capital Partners II, for a total commitment of up to $45 million; up to $20 million to ABS Capital Partners V, for a total of up to $90 million; and up to 30 million euros ($39 million) to Palamon European Equity Fund II, for a total of up to 60 million euros. Funding came from cash.