Institution: School Employees’ Retirement System of Ohio
Headquarters: Columbus, US
AUM: $17.35 billion
Allocation to alternatives: 27.0%
School Employees’ Retirement System of Ohio has approved $300 million-worth of commitments to six private equity vehicles, according to minutes of the pension’s June board meeting.
The commitments comprise $50 million apiece to the following funds:
- Blackrock Securitized Investors
- Francisco Partners VI
- Francisco Partners Agility Fund II
- HPS Specialty Loan Fund V
- KKR Dislocation Opportunities
- LBC Credit Partners V
SERS previously committed $75 million to both HPS Speciality Loan and LBC Credit Partners V back in December 2020. Commitments to Francisco Partners’ sixth funds and its second agility fund, which are both buyout vehicles, have been made from the pension’s private equity investment portfolio.
The $17.35 billion pension has a 12.0 percent target allocation to private equity that currently stands at 10.5 percent.
Looking forward to the pension’s 2022 objectives for global private equity, its investment team is seeking new and innovative investment opportunities as well as co-investment vehicles where appropriate to reflect the 12 percent target by the end of the 2022 fiscal year.
As illustrated below, the pension’s recent private equity fund commitments have predominantly targeted North American and European debt strategies across diversified sectors.
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