PSERS approves $450m in commitments

The US public pension has backed three North American private equity funds.

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $55.10 billion
Allocation to alternatives: 32.60%

Pennsylvania Public School Employees’ Retirement System has confirmed $450 million-worth of private equity commitments to three vehicles, published in pension’s August 2020 meeting minutes report.

The commitments comprise of $200 million to LLR Equity Partners VI, a top-up of $175 million to New Mountain Partners VI and $75 million to Clearlake Flagship Plus Partners.

The $55.10 billion US public pension has a 16.0 percent target allocation to private equity that currently stands at 12.9 percent.

As illustrated below, the pension fund’s recent commitments are to funds focused on the technology, financial services, consumer goods and healthcare sectors within the Europe and North America regions.

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