Pennsylvania’s Public School Employees’ Retirement System has committed $200m to four private equity funds.
The pension system has approved commitments of $50m each to funds managed by Asia Alternatives, Bank of America Merrill Lynch, FSN Capital, and GTCR, said Private Equity International.
Earlier this month AltAssets reported that PSERS committed $400m to two private equity funds managed by Apollo Global Management and Summit Partners.
GTCR has recently secured a $60m investment from the Maine Public Employees Retirement System for its Fund XI, which is targeting $3.25bn and will invest in mid-market companies in North America.
Hitting the $3.25bn target would equal the firm’s biggest-ever fundraise – its 2011-vintage tenth fund, which had initially targeted $3bn.
Meanwhile, FSN Capital is expected to close its latest fund on its €600m hard cap.
FSN, which currently has €525m under management, acquires controlling stakes in companies with enterprise values of between €50m and €200m.
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