Pathway and OPERF close $250 mln co-investment fund


Pathway Capital Management closed a $250 million co-investment fund with Oregon Public Employees Retirement Fund, which is managed by the Oregon State Treasury. The fund will invest alongside OPERF’s current portfolio of private equity managers.

PRESS RELEASE

IRVINE, CALIF.—Pathway Capital Management is pleased to announce that it has formed a $250 million customized co-investment fund in partnership with Oregon Public Employees’ Retirement Fund (OPERF), which is managed by the Oregon State Treasury. The new fund will make systematic investments alongside OPERF’s current portfolio of private equity managers.

The new venture expands on the more than 15-year relationship between OPERF and Pathway and also represents an extension of each entity’s decades-long record of investing in the private markets.

OPERF has committed more than $45 billion to private equity since it began investing in the asset class in 1981, and Pathway has committed more than $80 billion across a wide variety of private market strategies—including more than $1.8 billion in co-investments—since its inception in 1991.

About Pathway Capital Management
Pathway is a private market portfolio solutions provider with over $55 billion of assets under management from private equity, private credit, and infrastructure mandates. Formed in 1991, Pathway creates and manages single- and multi-investor programs for institutional investors worldwide, investing in various private market strategies through primaries, secondaries, and co-investments.

About Oregon Public Employees’ Retirement Fund
The Oregon Public Employees’ Retirement Fund (OPERF) is managed by the Oregon State Treasury on behalf of more than 367,000 current and former public workers and their beneficiaries. Policies and asset allocation targets are set by the Oregon Investment Council. OPERF is a globally diversified fund and was among the first and notable public investors in private equity. At the end of 2018, OPERF’s private equity portfolio had a market value of more than $16 billion.
About Oregon Public Employees’ Retirement Fund
The Oregon State Treasury provides institutional investment management, banking, and debt management programs for governments and facilitates defined contribution programs via public-private partnerships to help Oregonians invest for their higher education, retirement, and disability-related costs.