Philadelphia Board of Pensions approves a commitment

The US public pension has backed a North America-focused fund.

The City of Philadelphia Board of Pensions & Investment's board has accepted the staff's recommendation to invest in LLR Equity Partners V.

The $4 billion US public pension has a 14 percent target allocation to private equity that currently stands at 9.3 percent.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.