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PA SERS approves $75m commitment

The US public pension has backed Blackstone's eighth series buyout fund.

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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 a $75 million commitment to Blackstone Capital Partners VIII, a contact at the pension fund informed Private Equity International.

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 eight commitments to private equity funds with a 2019 vintage, which combined constitute $873 million.

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