PA SERS approves $905m in commitments

Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $28.80bn
Allocation to alternatives: 22.12%
Bitesize: $50-100m

Pennsylvania State Employees’ Retirement System (PA SERS) has approved $905 million in commitments to eight private equity funds, a contact at the pension informed Private Equity International.

PA SERS has committed $330 million to Ares PA Opportunities Fund, $100 million to Ares Special Opportunities Fund, €67 million ($75 million) to ICG Europe Mid-Market Fund, $75 million to Permira Credit Solutions IV, $100 million to Permira Susquehanna (Co-investment) Fund, €67 million ($75 million) to Permira VII, $100 million to Ardian Secondaries Fund VIII and $50 million to Ardian Secondaries Fund VIII PA Co-Investment Fund.

The $26.80 billion US public pension has a 16.0 percent target allocation to private equity that currently stands at 14.50 percent.

As illustrated in the charts below, PA SERS has made seven commitments to private equity funds with a 2019 vintage, which combined constitute $798 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.