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Pa. pension fund to back Searchlight, Clearlake investment vehicles

The Pennsylvania Public School Employees' Retirement System agreed to invest in various investment funds managed by private equity firms Searchlight Capital Partners LP and Clearlake Capital Group LP, among others.

The pension fund is committing up to $150 million to Searchlight Capital III LP, and up to $100 million to Clearlake Opportunities Partners (P) II LP.

It will also commit up to $100 million each to Exeter Property Group LLC's Exeter Industrial Core Fund III LP and Falko Regional Aircraft Ltd.'s Falko Regional Aircraft Opportunities Fund II LP, as well as up to £50 million to Cabot Properties LP's Cabot UK Core-Plus Industrial Fund SCSp.