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December 12, 2017 12:00 AM

PennPSERS commits $1.3 billion to alternatives

James Comtois
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    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.

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    December 12, 2022 page one

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