Iowa PERS Taps Pathway To Invest $650M In PE

Pension System: Iowa Public Employees’ Retirement System

Assets Managed: $24 Billion (Sept. 30, 2012)

PE Assets Managed: $3 Billion (Sept. 30, 2012)

PE Allocation (Target): 12.4% (13%) (Sept. 30, 2012)

Chief Investment Officer: Karl Koch

The $24 billion Iowa Public Employees’ Retirement System has earmarked $650 million for a private equity pool to be managed by Pathway Capital Partners. Pathway will invest the money on IPERS’s behalf during 2013, according to Judy Akre, a pension spokeswoman. The formal decision was made at IPERS’s board meeting on Dec. 6.

Many public pensions, like IPERS, outsource their private equity investing to third parties, such as Pathway, whose main business is managing private equity funds of funds. Pathway, which has been the sole manager of IPERS’s private equity program since 1993, ...

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