Ohio Public Employees Retirement System, Columbus, committed $100 million to Permal Ohio Midwest Partners II, a private equity fund of funds managed by Permal Group, confirmed spokesman Michael Pramik.
The retirement system, which includes $73.3 billion in defined benefit pension plan assets, had previously committed $300 million to three Ohio-Midwest funds managed by Permal Group since 2005 when the system established a program to invest in local companies.
Separately, the retirement system made a direct investment of $50 million in Chatham Asset Partners High Yield Fund, a credit long/short hedge fund managed by Chatham Asset Management that invests in high-yield and leveraged loans.
The new investment gives the retirement system a total of $4.53 billion in direct hedge fund investments since it began direct investments in February 2011.
