The $71 billion Pennsylvania Public School Employees' Retirement System at its January meeting approved $350 million in mandates spread across two fund managers.
The allocations follow the appointment of Benjamin Cotton as chief investment officer of the fund, replacing James Grossman, who retired last May. Cotton had been a senior managing director for the $60 billion United Auto Workers Retiree Medical Benefits Trust in Michigan.
Trustees selected the CD&R’s Clayton, Dubilier & Rice Fund XII for a $100 million mandate. The buyout fund was approved by staff and consultant Hamilton Lane. CD . . .
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