UK - The Universities Superannuation Scheme has invested US$135m in the Neuberger Berman Secondary Opportunities Fund II.
The USS becomes the largest investor in the formerly Lehman Brothers-owned investment management firm's £1.15bn alternative fund.
USS head of alternative assets Mike Powell said: "This investment gives us a fantastic opportunity to gain more exposure to the secondary private equity returns with a highly experienced team, and strengthen our relationship with NB Alternatives.
"The transaction was led by our co-investment team at USS, an area of increasing focus as we continue to expand our private equity investment programme."
Following the USS transaction, the Lehman Brothers Estate retains an interest of about £33m in the fund.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.