PSERS approves $425m in commitments

The US public pension has backed three private equity funds.

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $55.27bn
Allocation to alternatives: 28.40%
Bitesize: $100-200m

Pennsylvania Public School Employees’ Retirement System (PSERS) has agreed to commit $200 million to Bain Capital Distressed & Special Situations 2019, $75 million to Incline Elevate Fund and $150 million to Hahn & Co III, according to the pension’s May Board meeting minutes.

The $55.27 billion US public pension has a 16.0 percent target allocation to private equity which currently stands at 15.40 percent.

As illustrated in the charts below, PSERS has made five commitments to private equity funds with a 2019 vintage, which combined constitute $675 million.

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