Pennsylvania’s largest public pension fund – the $75bn Pennsylvania Public School Employees’ Retirement System – has approved commitments of up to $350m private infrastructure and growth equity investments, according to a report by the Wall Street Journal.
Pennsylvania’s largest public pension fund plans to commit as much as $350 million to boost its investments in private infrastructure and growth equity.
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The pensions scheme’s board has agreed to allocate up to $250 million to a separately managed account with GCM Grosvenor Inc, publicly-traded alternative investments manager with approximately $71 billion under management, along with up to $100 million to a new fund managed by Greenoaks Capital Partners.
The report cites staff members as confirming that the $250 million commitment will support a vehicle called GCM US Partnership Opportunities, while the Greenoaks Capital Opportunities Fund V investment will be the pension scheme’s second commitment to the San Francisco-based growth-equity manager in San Francisco, following a $100 million commitment to the firm’s third capital opportunities fund.
Source: Private Equity Wire
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