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Mississippi Public Employees scores 32 7% fiscal-year return
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Heitman raises $3 2bn for three private funds
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Heitman hauls in $3 2 billion in latest fundraising round
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Mississippi Public Employees allocates $795 million to private equity, real estate
Mississippi Public Employees allocates $795 million to private equity, real estate
Pathway Capital Management 2021 series private equity fund, a spokeswoman for the $33.7 billion pension fund said in an email.
The commitment was approved at a board meeting Thursday.
The $720 million investment is to be made in three annual installments of $240 million, which are expected to begin in fiscal year 2022 at the discretion of Pathway, the spokeswoman said.
The commitment follows investments with Pathway in three prior series, the most recent being the 2016 series, which is approaching full deployment, according to meeting materials.
Mississippi axes Longview from global equity portfolio
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Mississippi Public Employees Retirement System, Jackson, terminated Longview Partners as one of its four global equity managers.
The $29.9 billion pension plan approved the termination at a board meeting on Dec. 15, a spokeswoman said in an email.
Longview, which was put on watch in October, was terminated due to a combination of investment team and executive team changes as well as performance, she said.
As of Sept. 30, Longview managed $756 million, or 20.8% of the pension fund s $3.6 billion total global equity allocation. The assets managed by Longview will be moved into the Northern Trust Global Index Fund, managed by Northern Trust Asset Management,the spokeswoman said. It wasn t known whether the pension fund would look for another global equity manager as a result of the termination.