If you follow the world of venture capital and private equity, you’re likely familiar with the concept of funds. They’re the folks who are doing due diligence, cutting checks to provide capital for companies, and actively managing a portfolio. What’s less obvious and murky is where those funds actually get the money they use to make those investments. Some of that money comes from a-whole-nother group of funds — often referred to as a “fund of funds” — that provide capital for venture capital and private equity funds to do their work. And one of those fund of funds is the Oregon Public Employees Retirement (PERS) Fund.