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PSERS approves $175m in commitments

The US public pension has approved a commitment to an Apax Partners private equity fund.

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Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $64.2 billion
Allocation to alternatives: 37.2%

Pennsylvania Public School Employees’ Retirement System has agreed to commit $175 million to Apax Digital Fund II, according to the pension’s latest board resolution.

Apax Partners‘ second digital fund is in market targeting $1.5 billion in LP capital. The fund is focused on growth equity and minority buyout investments in the mid-market TMT sector.

The $64.2 billion US public pension has a 14.2 percent current allocation to private equity.

As illustrated below, Penn PSERS’ recent commitments have targeted early-stage vehicles focused on investments in Asia-Pacific, Europe and North America.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.