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Private equity leaves Salem with $1B

Cathy Cheney | Portland Business Journal

The Oregon Investment Council has made commitments of nearly $1 billion to three private equity funds.

Staff Portland Business Journal

The Oregon Investment Council on Wednesday made commitments totaling nearly $1 billion to funds being raised by Apollo Global Management, Lone Star and Blackstone Group.

As the Oregonian reports[1], the state has invested in previous funds by all three private equity firms. The money will come from the Public Employees Retirement Fund.

The Apollo fund will target buyout and distressed debt opportunities, the Lone Star Fund will target distressed debt and real estate assets, and the Blackstone fund will invest in what it called "tactical opportunities."

References

  1. ^ the Oregonian reports (www.oregonlive.com)
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