PennSERS approves $150m in commitments

The US public pension has backed two 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 agreed to commit $75 million each to Insight Venture Partners XI and Clearlake Capital Partners VI, a contact at the pension informed Private Equity International.

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, PennSERS has made 13 commitments to 2019-vintage private equity funds, which combined constitute $1.19 billion.

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