The Pennsylvania State Employees Retirement System, Harrisburg, will invest up to $320 million in private equity and venture capital funds, confirmed Bob Gentzel, spokesman. The $30 billion system will make follow-on commitments to three private equity funds: up to $125 million to Hellman & Friedman VI; up to $80 million to AXA Secondary Fund VI; and up to $50 million to Providence Equity Partners VI. It will also make new investments in three venture capital funds: up to $30 million to Sofinnova Venture Partners VII; up to $20 million to VIMAC Ventures I.T. III; and up to $15 million to InterMedia Partners VII.
The system will also make a follow-on commitment of up to $25 million to BPG Investment Partnership, a real estate fund.
Funding for all the investments will come from cash, and final dollar amounts are pending contract negotiations.