PennSERS adds $400m to PE, subtracts Russian investments

The Board of the $39 billion Pennsylvania State Employees' Retirement System (PennSERS) approved half a dozen private equity investments totaling $400 million at its meeting on March 4.

The board also instructed the system’s staff and vendors to divest all PennSERS' “Russia-related” investments as soon as practical.

The Board approved the following investment commitments within the private equity class:

  • Up to $100 million to Francisco Partners VII, L.P.
  • Up to $50 million to Francisco Partners Agility III, L.P.
  • Up to $50 million to a . . .

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Mark Fortune

Mark Fortune has more than 30 years of experience as a financial writer and editor, with a focus on institutional investment management. He has worked in various editorial roles at organizations that include Institutional Investor, Pageant Media, Markets Group and, most recently, at New York investment management firm Cohen & Steers.

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