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March 17, 1994|From Times Staff and Wire Reports

CalPERS to Loan $100 Million to Mid-Size Firms: The nation's largest public pension fund said the investment, to be managed by a Beverly Hills equity capital firm, is intended as the first step in a new investment program targeting state firms. The initial funds are expected to go to eight to 12 companies in amounts ranging from $5 million to $20 million. The qualifying companies must have less than $250 million in annual revenue and be "fundamentally sound" but in need of capital that has not been forthcoming from lenders, said Jed Maxwell, principal investment officer for the pension fund.

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