PA SERS approves $450m in commitments

The US public pension has backed three private equity funds.

Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $29.50bn
Allocation to alternatives: 20.62%
Bitesize: $50-100m

Pennsylvania State Employees’ Retirement System has confirmed $450 million-worth of private equity commitments to three vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of $50 million to Altaris Health Partners V, with $200 million apiece committed to a pair of co-investment vehicles. The vehicles in question are managed by NB Alternatives and HarbourVest Partners, respectively.

The $29.50 billion US public pension has a 16.0 percent target allocation to private equity that currently stands at 13.60 percent.

As illustrated below, PA SERS has made several commitments to private equity funds with a 2019 or 2020 vintage, which combined constitute $1.64 billion.

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