Oregon Investment Council, Tigard, which manages the $51.5 billion Oregon Public Employees Retirement Fund, Salem, committed $200 million to Sanders Capital Value Fund, a growth alternative investment fund, and agreed to invest $100 million in a customized secondary private equity program managed by its private equity consultant, PCG Asset Management, said council spokesman James Sinks.
The Sanders fund is the first from the new firm started by Lewis Sanders, former chairman and CEO of AllianceBernstein. In July 2008, the council had committed $200 million in the AllianceBernstein Deep Value Fund, which was to be managed by Mr. Sanders, but the fund was dissolved after Mr. Sanders resigned from AllianceBernstein in December 2008.
The council decided to set aside $100 million to buy private equity interests on the secondary market, only if the right opportunities are offered, Mr. Sinks said.
