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PSERS bet big on this scrubs brand whose IPO boosted a Steelers owner’s billions

The Pa. school pension fund’s investment looks pretty solid at the moment, but the company faces challenges.

A banner for Figs hangs on the New York Stock Exchange last Thursday, noting the first day of trading for online scrubs seller Figs. Among its investors before the IPO was PSERS, the Pennsylvania Public School Employees' Retirement System.
A banner for Figs hangs on the New York Stock Exchange last Thursday, noting the first day of trading for online scrubs seller Figs. Among its investors before the IPO was PSERS, the Pennsylvania Public School Employees' Retirement System.Read moreCourtney Crow / New York Stock Exchange / AP