Philadelphia Board Commits $50M to Private Equity

The Philadelphia Board of Pensions and Retirement has approved $50 million to Turning Rock Partners.

$25 million was committed to Turning Rock Fund II. In addition, $25 million was committed to a co-investment vehicle.

As of June 30, 2023, the $7.5 billion Retirement System has an actual and target allocation to private assets of 13.4% and 12 % respectively.

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