PERF Commits $108.5 Million in Four Private Equity Investments
Includes two follow-on commitments
INDIANAPOLIS (March 22, 2007) - The Indiana Public Employees' Retirement Fund (PERF) has made four private equity commitments totaling $108.5 million.
The commitments represent continued progress in implementing an asset allocation aimed at managing risk by continuing to diversify PERF's assets to meet return expectations.
These latest commitments include:
- A $20 million commitment to Technology Partners Fund VIII. This fund provides venture capital to promising "cleantech" and life sciences companies. Cleantech includes environmentally friendly technologies involving materials, water and energy. Life sciences investments can include neuroscience and quality of life products.
- An $8.5 million commitment to Horsley Bridge Growth VIII. This commitment follows a $45 million commitment to Horsley Bridge International Fund IV closed in January, 2007. This fund will work with investment firms that invest in mature businesses with strong growth potential.
- A $50 million commitment to Lehman Brothers Fund XVIII. This fund builds on the success of 17 previous funds. It makes investments in other funds that provide venture capital for start-up companies as well as well-established firms with strong potential for growth or operational improvement.
- A $30 million commitment to Oaktree Capital Management Opportunities Fund VII. This is PERF's third fund with Oaktree Capital Management. Previous commitments include $30 million to Fund VI in 2005 and $30 million to Asia Opportunities Fund I in 2006. Fund VII will focus on acquiring businesses that have the potential to improve operational performance and value.
The Public Employees' Retirement Fund (PERF) is a $16.3 billion retirement fund headquartered in Indianapolis that serves the needs of more than 220,000 public employees and retirees throughout Indiana.
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CONTACT:
Jeff Hutson
Director of Communications
(317) 234-3401
jhutson@perf.in.gov
