Ohio Public Employees’ Retirement System, Columbus, made a total of $325 million in new commitments and investments, confirmed spokesman Michael Pramik.
The retirement system, which oversees $62.9 billion in defined benefit assets, committed $200 million to Top Tier VI, a venture-capital fund of funds managed by Top Tier Capital Partners. The retirement system previously committed $75 million to Top Tier III in 2004, $50 million to Top Tier IV in 2007 and $250 million to Top Tier V in 2011.
Also, the retirement system committed $25 million to Sightline Healthcare Opportunity Fund II, a venture capital secondary direct fund managed by SightLine Partners.
Separately, the system made a direct hedge fund investment of $100 million to Discovery Global Macro Partnership, a discretionary global macro fund run by Discovery Capital Management that emphasizes emerging markets.
The system also redeemed $120 million from COMAC Global Marco Fund. The system originally made the investment in May 2012. Mr. Pramik wrote in an e-mail that the redemption was made because the fund invests in several other global macro funds.
Hedge fund consultant Cliffwater assisted on the hedge fund investment.