PA Public Schools pulls vote on commitment to Insight Partners’ latest fund Insight Partners launched its 13th flagship in August Gregg Gethard - 14 hours 920 Pennsylyania’s large teachers’ pension pulled a recommended commitment to Insight Partners’ 13th flagship fund. Pension systems rarely pull commitments to funds that have received preliminary approval. Generally, such reversals happen amid a breakdown in negotiations over fund terms, which occur after a recommended commitment. Systems like Pennsylvania’s teacher pension have also pulled commitments during market downturns. A spokesperson for the $75.8 billion system said investment staff withdrew its request for a vote on the potential commitment to Insight Partners XIII before the December 15 meeting of its full board of trustees. The proposed commitment was on the agenda for the system’s investment committee meeting held on December 7. The spokesperson for PA Teachers declined to comment on the pulled commitment. The amount of the proposed commitment was also not disclosed. PA Teachers approved up to $150 million to Insight Partners XII and $50 million to a possible follow-on vehicle in August 2021, according to board documents. Before that decision, PA Teachers committed $444 million across three other Insight Partners funds and two co-investments. Insight Partners announced it raised $20 billion for its twelfth flagship fund in February. Insight Partners XIII launched in August, according to its Form D filed with the SEC.The manager describes itself as a global software investor. Investments touted on its website include Twitter, Shopify, HelloFresh, DocuSign and Calm. Insight Partners did not respond to questions seeking comment by press time. In 2014, Pennsylvania’s teachers’ pension canceled a commitment to Centerbridge Partners third flagship fund after term negotiations broke down, Buyouts reported at the time.