Oregon Investment Council, Tigard, declined last week to add $50 million to the Oregon Investment Fund, said Ley Garnett, spokesman for the council, which oversees the $60 billion Oregon Public Employees Retirement Fund, Salem. The $100 million fund was established by the state Legislature in 2003 to make private equity investments with mostly in-state companies. The fund's investment manager, Credit Suisse, would have committed an additional $2.5 million had the council approved the new allocation, Mr. Garnett said.
Some council members would like to see a longer return history before increasing the commitment to the fund, Mr. Garnett said. The council already has invested $76 million.