Philadelphia Municipal Employees Retirement System made two new...

Philadelphia Municipal Employees Retirement System made two new commitments to private equity funds and increased the size of a prior commitment, said Marc Bonavitacola, acting CIO for the $4.75 billion fund. The system committed $10 million to Columbia Capital Equity Partners II, a communications and information technology fund, and $10 million to the buyout fund Fenway Capital Equity Partners II. It also increased its commitment to Fairview Capital Fund II, a fund of funds focusing on minority-owned and minority-focused funds, to $20 million from $10 million, he said. Funding will come from cash, said Mr. Bonavitacola.