Philadelphia approves $90 million in commitments

The US public pension has backed two private equity funds.

Institution: City of Philadelphia Board of Pensions & Retirement
Headquarters: Philadelphia, United States
AUM: $5.80bn
Allocation to alternatives: 19.50%
Bitesize: $10-50m

City of Philadelphia Board of Pensions & Retirement has confirmed $90 million-worth of private equity commitments to two vehicles, according to the pension’s December 2019 board meeting minutes.

The commitments comprise of $45 million each to EIV Capital Fund IV and Deerpath Fund V.

The $5.8 billion US public pension has a 8.0 percent allocation to private equity.

As illustrated below, Philadelphia has made three commitments to private equity funds with a 2019 vintage, which combined constitute $115 million.

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