Ohio SERS’s Staff Investment Committee approved the commitment to Coller International Partners VII (CIP VII) at board meetings held on 19 and 20 November, according to an investment report. In July, Secondaries Investor reported Coller had held a first close on $3.1 billion for CIP VII, which is seeking $5.5 billion. The fund has a $6.5 billion hard-cap.
Other investors in CIP VII include the Michigan Department of Treasury, which has committed $150 million, Pennsylvania Public School Employees’ Retirement System, which has pledged $100 million, and Louisiana State Employees Retirement System, which has committed $75 million, according to PEI’s Research and Analytics division.
Ohio SERS manages $12.8 billion on behalf of the state’s active and retired non-teaching public school employees. The fund’s private equity portfolio was worth around $1.2 billion and accounted for almost 10 percent of investments as of 30 September, according to the pension’s website.
Coller invests in a range of secondaries deals including single limited partner stakes in small private equity funds and large portfolios of assets. The secondaries firm makes investments from between $1 million to $1 billion or more and has $9.5 billion in assets under management, according to PEI data.