Philadelphia Board of Pensions and Retirement committed $60 million to Veritas Capital Fund V, a private equity fund managed by Veritas Capital Fund Management, said Brad Woolworth, deputy chief investment officer for the $4.5 billion pension fund.
Veritas Capital Fund V focuses on investments in government services, defense, health care, information technology and other government-related industries. Private equity consultant Franklin Park Associates assisted with the commitment.
The pension plan made a commitment to Veritas Capital Fund III in 2006.
