PA SERS approves up to $175m in commitments

The US public pension fund has backed enterprise software and natural resources focused funds.

The board of the Pennsylvania State Employees’ Retirement System announced a commitment of up to $75 million to Vista Equity Partners Fund VII, which will focus on large cap investments in enterprise software companies. The board also approved commitments of up to $75 million to NGP Natural Resources XII and up to $25 million to NGP Keystone. These two commitments will focus on control upstream oil and gas investments in North America using a buy and build strategy.

The 429.8 billion US public pension has a 28.0 percent target allocation to private equity that currently stands at 21.3 percent.

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