Oregon Investment Council, Tigard, which oversees the $53.4 billion Oregon Public Employees Retirement Fund, Salem, voted on Wednesday to divest its stock in companies that do business in Sudan. Kevin Max, spokesman, said the state's pension system has about $32 million invested in four companies identified as doing business in Sudan: PetroChina Co. Ltd., ABB Ltd, Sinopec Corp. and Tafnet. Managers will be asked to screen investments for other companies with ties to Sudan. The state Legislature passed a bill this summer that calls for all public funds to divest their holdings in corporations operating in Sudan and bars public financial investment in the region.
Separately, the council approved four private equity investments: approved four private equity investments: $250 million to Fisher Lynch Co-Investment Fund I; $150 million to the Apollo Investment Fund VI; and $100 million each to Vestar Capital Partners V and KSL Capital Partners II. The fund's private equity target is 12% of assets, and it currently has a 9% allocation.