PennSERS confirms $125m in commitments

The US public pension has backed Sentinel Capital's two private equity funds.

Name: Pennsylvania State Employees’ Retirement System
HQ: Harrisburg, US
AUM: $39.9 billion
Allocation to alternatives: 26.8%

Pennsylvania State Employees’ Retirement System (PennSERS) has backed two private equity funds from Sentinel Capital Partners, a $100 million commitment to Sentinel Capital Partners VII and a $25 million commitment to Sentinel Junior Capital II, according to their July board meeting.

PennSERS was established in 1923, and is one of the nation’s oldest and largest state wide retirement plans for public employees.

PennSERS has a 14.7 percent allocation to private equity, which comprises $5.9 billion in capital. It currently has a target allocation of 12 percent.

As illustrated below, PennSERS recent private equity commitments are focused on North American vehicles that invest in buyout and debt.

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