Penn SERS approves $125m in commitments

The US public pension has backed two private equity funds.

Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $30.89 billion
Allocation to alternatives: 19.72%

Pennsylvania State Employees’ Retirement System has agreed to commit $75 million to HPS Mezzanine Partners 2019 and $50 million to LLR Equity Partners VI, a contact at the pension informed Private Equity International.

The $30.89 billion US public pension has a 16.0 percent target allocation to private equity, with a current allocation of 12.8 percent.

As illustrated below, the pension fund’s recent commitments are to funds focused on the financial services, consumer goods, healthcare and technology sectors within the Europe and North America regions.

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