Pennsylvania pension selects three firms to manage more than $500m

The Pennsylvania Public School Employees’ Retirement System made private equity and alternative credit investments in the last month, while retaining Aksia as a hedge fund and private credit investment consultant to the $56 billion pension.

The board approved a £125 million (US$143 million) allocation to Bridgepoint Development Capital IV LP, a private equity fund that is being raised to invest in businesses in the European lower middle market.

The latest fund follows the same investment strategy and process Bridgepoint has deployed since 2009 and according to a trustee memo the fund is targeting commitments . . .

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