Quaker Partners, whose partners included Philadelphia real estate and private equity investor Ira J. Lubert, and the late Glaxo executive Brenda Gavin, raised $700 million in the 2000s for biotech investments in the Philadelphia area and other markets, but results have been slow: Of a total of $200 million invested by the Pennsylvania state and public school workers' pension systems in the plan, just $135 million had been returned by 2017, more than ten years later, according to state investment records. These investments have yet to deliver a profit for the pensions, which face large long-term deficits.