US - The Indiana Public Employees' Retirement Fund (PERF) has made four private equity commitments totalling US$165m, which follows a $205m private equity investment in December 2006.
The latest announcement has seen the $16.1bn fund continue to implement the 15% allocation to alternative investments approved in August.
The allocation aimed at managing risk by continuing to diversify PERF’s assets to meet return expectations.
PERF will be handing over $45m to Horsley Bridge International Fund IV and $50m to Terra Firma Capital Partners III. It will also be sinking $20m into PACVEN Walden Ventures VI and another $50m to Greenpark Capital Fund III.
The Horsley Bridge Fund makes investment in other funds that purchase businesses or provide venture capital for companies with strong potential and will target opportunities in Europea and Asia.
Terra Firma Capital Partners will focus on acquiring companies with significant assets in Europe while PACVEN will provide capital to high technology companies in the US and Asia. The Greenpark investment on the other hand provides capital for small to midsized companies in the US and Europe.
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