Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $73.32 billion
Allocation to alternatives: 32.1%
Pennsylvania Public School Employees’ Retirement System has confirmed $200 million in commitments across two private equity vehicles, a contact at the $73.32 billion public pension informed Private Equity International.
$100 million each was committed to Oak HC/FT Partners V and Clearlake Opportunities Partners III.
Oak HC/FT is a Connecticut-based venture capital firm focused on investments in healthcare and fintech companies in the US. The firm launched Fund V in April 2022 after the successful final closing of Fund IV, for which they raised $1.4 billion in investor capital against a target of $1.1 billion.
Founded in 2006, Clearlake Capital Group is an investment firm that targets investment in the technology, industrials, and consumer sectors. Clearlake launched Clearlake Opportunities Partners III in 2021 with a $1.5 billion target size. For the previous fund in the series, Clearlake had raised $1.4 billion against a $1 billion target by the time of a final close in June 2019.
PSERS currently allocates 15.9 percent of its investment portfolio to private equity, comprising $11.66 billion in capital.
As illustrated below, the pension’s recent private equity commitments have been focused on buyout and venture vehicles that invest across North America.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.