Pennsylvania Public School Employees' Retirement System, Harrisburg, committed roughly $390 million to three alternative investment funds, documents from the $59.1 billion pension plan's website showed.
At its March 6 meeting, the PennPSERS board committed $175 million to New Mountain Partners VI, a buyout and growth investment fund managed by New Mountain Capital.
The board also committed to two upper-middle-market buyout funds focused on the software and services industry managed by HgCapital: €100 million ($113 million) to Hg Genesis 9 A; and $100 million to Hg Saturn 2 A.
Hamilton Lane Advisors, the plan's private equity investment consultant, advised on these commitments.
