Philadelphia Board of Pensions and Retirement committed or invested a total of $80 million to two funds, according to recently released investment committee meeting minutes.
The $4.5 billion pension system committed $60 million to Sycamore Partners II, a private equity fund focused on investing in turnaround situations in retail and consumer companies. The board also invested $20 million in a long/short equity hedge fund managed by Elizabeth Park Capital Management.
Investment consultant Cliffwater assisted with the commitment to Elizabeth Park Capital.
Christopher DiFusco, director of investments for the pension system, could not be reached for comment by press time.
