Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $64.37 billion
Allocation to alternatives: 20.6%
Pennsylvania Public School Employees’ Retirement System has approved $350 million-worth of commitments to two private equity funds at its August 2021 board meeting, a contact at the pension informed Private Equity International.
Insight Partners Fund XII launched in February 2021, seeking $12 billion in investor capital. Summit Partners launched their 11th series growth equity fund in July 2021, seeking $7 billion in investor capital.
With a target of 15 percent, PSERS currently allocates 13 percent of its total investment portfolio to private equity, which encompasses $8.37 billion in value.
As illustrated below, PSERS’ recent private equity commitments have tended to focus on global growth equity vehicles that specialise in the TMT sector.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.