Michigan Retirement Services commits $670m to 6 funds

The $11.8bn US public pension discloses investments made in the fourth quarter of 2017.

The State of Michigan Employees’ Retirement Services (ORS) disclosed commitments totaling $670 million to six private equity funds completed in the fourth quarter of 2017.

The $11.8 billion US public pension invested $250 million in Carlyle Partners VII; $175 million in Affinity Asia Pacific Fund V; $150 million in Charlesbank IX; $100 million in Sycamore Partners III; $50 million in Berkshire Fund IX; and $45 million in Warburg Pincus Financial Sector.

Michigan ORS has an 18 percent target allocation to private equity that currently stands slightly below 16 percent. Platinum subscribers may click here for the pension fund’s full profile, including key contacts, allocation strategy and fund investments.