Pennsylvania State University, University Park, made four commitments totaling $52.5 million for its long-term investment pool, said an investment review in upcoming board of trustees meeting materials.
The Penn State Investment Council, which oversees the investment management of the long-term investment pool, committed $20 million to Natural Gas Partners XI, a private equity fund managed by NGP Energy Capital Management that invests in the North American oil and natural gas industries.
The council also committed $15 million to Och-Ziff Real Estate Fund III, an opportunistic real estate fund managed by Och-Ziff Capital Management Group; $10 million to venture capital fund Sofinnova Venture Partners Fund IX, managed by Sofinnova Ventures; and $7.5 million to Charles River Partnership XVI, a venture capital fund managed by Charles River Ventures.
Separately, the long-term investment pool returned 17.9% in the fiscal year ended June 30, identical to its policy benchmark.
The long-term investment pool had $3.5 billion in assets, including $2.3 billion in endowment assets, as of June 30.
John Pomeroy II, chief investment officer and chief risk officer in the university’s office of investment management, was not available to provide further information by press time; other officials did not return a phone call by press time.