PA SERS approves $250m in commitments

The US public pension has backed North America- and Europe-focused funds.

Pennsylvania State Employees’ Retirement System has committed $100 million to large market buyout fund, Hellman & Friedman Capital Partners IX, and $75 million each to Audax Private Equity Fund VI, focused on buyouts to lower middle market companies in North America, and TCV X, targeting growth equity investments in technology and tech-enables services companies across Europe and North America.

The $29 billion US public pension has a 16 percent target allocation to private equity that currently stands at 13.7 percent.

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