Justin Mitchell

The $82bn public employees' retirement fund, which is overweight in private equity, plans to maintain its commitment pace and take other actions to get the portfolio right-sized.

The $60bn pension's private equity advisor, StepStone Group, is the lead investor on the deal, which includes healthcare company Confluent Medical Technologies.

Some board members have voiced concerns about the pace at which the $20bn pension is implementing plans to branch out into secondaries and co-investments.