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Penn SERS approves $75m in commitments

The US public pension has backed two North American private equity funds.

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Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $26.99 billion
Allocation to alternatives: 24.4%

Pennsylvania State Employees’ Retirement System has agreed to commit $50 million to Thoma Bravo Fund XIV and $25 million to Thoma Bravo Discover Fund III, as published in the pension’s September 2020 meeting minutes.

The $26.99 billion US public pension has a 16.0 percent target allocation to private equity that currently stands at 15.30 percent.

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

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