Oregon Investment Council, which runs the Tigard-based $76.6 billion Oregon Public Employees Retirement Fund, committed €225 million ($247.8 million) to Permira VII, a mid- to large-cap buyout fund managed by Permira Advisers, according to a report to the council.
Separately, the council, at its Wednesday meeting, voted to replace one of the small company stock option funds in its $2.3 billion 457 plan. The council added the BlackRock S&P 600 index fund to replace the BlackRock Russell 2000 index fund. The other two funds in the small company stock option are the DFA Small Cap Equity and Callan Small Cap Equity funds. The three funds manage a total of $245.3 million.
The council also changed the primary benchmark of the 457 plan's real return option to the State Street Global Advisors Real Assets Custom Blended index from the consumer price index plus 3%. The council decided to use the CPI plus 4% as a secondary benchmark for the $4.3 million real return option, which is all invested in the SSGA fund.
The 457 plan's consultant, Callan, assisted.