Pennsylvania Public School Employees' Retirement System, Harrisburg, committed roughly $1.29 billion to eight private investment funds, documents from the $54.1 billion pension fund show.
At its Dec. 8 meeting, the PennPSERS board agreed to commit $400 million to Children's Investment Fund, a hedge fund managed by TCI Fund Management.
It also agreed to commit $200 million to Clearlake Capital Partners V, a fund managed by Clearlake Capital Group that targets opportunistic debt and equity investments in North American middle-market companies undergoing change and/or in undeserved industries.
In addition, PennPSERS' board committed $150 million each to Denham Mining Fund, a commodities fund managed by Denham Capital Management; and Almanac Realty Securities VIII, a real estate private placement fund managed by Almanac Realty Investors.
The pension board invested €100 million ($117 million) in Bridgepoint Europe VI, a buyout fund; and €85 million ($100 million) in Equistone Partners Europe Fund VI, a private equity fund.
Finally, the board agreed to invest $100 million in growth equity fund Insight Venture Partners Fund X and $70 million in private equity fund Blue Point Capital Partners IV.