Pennsylvania State Employees’ Retirement System, Harrisburg, approved four new investment commitments totaling up to $350m, confirmed Pamela Hile, spokeswoman for the $39bn system.
At its Wednesday meeting, the system’s board agreed to commit up to $100 million each to TSG9, a buyout fund managed by TSG Consumer Partners that seeks investments in consumer-product companies; and Ares PA Opportunities Fund, a distressed debt fund managed by Ares Management.
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“Despite today’s current prices,” Dan Cummings, head of the Bain property unit said, “we continue to source compelling investments with attractive yields, prospects for future income growth and inflation protection.
Source: The Edge Markets
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