Pennsylvania State Employees Retirement System, Harrisburg, approved $90 million in new alternatives commitments: up to $15 million to Kline Hawkes Pacific; up to $50 million to Francisco Partners; and up to $25 million to InterWest Parters VIII.
The $28 billion fund also approved $155 million in follow-on commitments: up to $40 million to TL Ventures V; up to $15 million to Newbridge Asia III; and up to $100 million to J.P. Morgan Venture Capital Institutional Investors II.
The fund also approved a commitment of up to $25 million to real estate fund Cliffwood Select Equity.
All allocations will be funded from cash.
City of Cincinnati Retirement System is hiring Ariel Capital Management to handle $50 million in active small-cap to midcap value domestic equities, pending board and contract approval, said Jack Walsh, investment officer. Funding will come from the funds $780 million in active large-cap value domestic equity, which is overweighted. The portfolios that may be reduced are: Oppenheimer Capital, $340 million; Gradison McDonald, $250 million; and Bartlett, $30 million.
The $2.6 billion fund also hired Navellier & Associates to run $50 million in active small-cap to midcap growth domestic equity. Funding comes from Ark, leaving the active large-cap value domestic equity manager with $120 million.