Section 38.1139a - State treasurer as investment fiduciary; investments in private equity; limitation; investment fiduciary not state treasurer; limitation(1) If the investment fiduciary is the state treasurer, investments in private equity shall not be more than 30% of the system's total assets. If the investment fiduciary is not the state treasurer and the system has assets of $1,000,000,000.00 or more, investments in private equity shall not be more than 10% of the system's total assets. An investment fiduciary described in this subsection may invest not more than an additional 5% of the system's assets in Michigan private equity only.(2) An investment fiduciary of a system that has assets of $250,000,000.00 or more but less than $1,000,000,000.00 shall not invest more than 5% of the system's assets in Michigan private equity. An investment fiduciary may otherwise invest in private equity under section 20d.Amended by 2012, Act 347,s 10, eff. 3/28/2013.Added by 2008, Act 425,s 4, eff. 1/6/2009.