Iowa Public Employees’ Retirement System, Des Moines, authorized Pathway Capital Management, its private equity manager, to search for private equity funds and commit a total of up to $700 million in 2014.
Pathway Capital has full discretion under its contract with the $26.4 billion IPERS to search for, and select, private equity partnerships, subject to the maximum commitment, Karl Koch, IPERS chief investment officer, said in a statement.
Pathway does not issue RFPs in its search process. Prospective managers may contact Pathway.
IPERS has $2.9 billion allocated to private equity.