CaIPERS invests $50 million in Polish Enterprise Fund IV

Californian pension system for public company employers CaIPERS paid $50 million to invest in Polish Enterprise Fund IV. It is the first named investor of a new fund managed by Enterprise Investors (EI). "We plan to close the first section amounting to $200 million by the first half of September. In the second phase we plan to raise an additional $100 million, in order to be able to invest $300 million by the end of the year," said managing partner of EI Jacek Siwicki. He did not reveal the names of other investors, but said they would be American pension funds, insurance companies and banks. The strategy of the new fund will not be changed and will still focus on information technology (IT), health care, telecommunications and privatization. The new angle is that 25% of the money will be invested outside Poland, in Romania, Hungary and Czech Republic. (Parkiet, Aug. 26-28, page 7)