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Putting Money Into Mutual Funds
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Form 497K NEUBERGER BERMAN EQUITY
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Form 497J NEUBERGER BERMAN EQUITY
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Philadelphia commits $100 million to private equity, social impact funds
Pension fund also swaps real estate fund managers
Print
Philadelphia Board of Pensions & Retirement committed a total of $100 million to two private equity funds, confirmed Christopher DiFusco, chief investment officer of the $6.4 billion pension fund.
At its investment committee meeting Dec. 3, the board agreed to commit $50 million each to African Development Partners III, a private equity fund managed by
Development Partners International; and to the Queen Lane Fund, a social impact fund managed by
Franklin Park.
The commitment to African Development Partners III will be split evenly between the fund and a co-investment vehicle.