City of Philadelphia approves $25m commitment

The US public pension has backed a North American private equity fund.

Institution: City of Philadelphia Board of Pensions & Retirement
Headquarters: Philadelphia, US
AUM: $5.77 billion
Allocation to alternatives: 11.1%

City of Philadelphia Board of Pensions & Retirement has confirmed a $25 million commitment to Estancia Capital Partners Fund II, as reported by sister publication Private Equity International.

The fund is managed by Estancia Capital Management and will invest in North American companies in the financial and business services sectors.

The $5.77 billion US public pension has a 9.3 percent allocation to private equity.

As illustrated below, Philadelphia has focused its recent commitments on North American vehicles and has committed a total of $190 million to funds with vintages between 2018 and 2020.

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