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Laxman Pai, Opalesque Asia: Pennsylvania State Employees' Retirement System (PennSERS) approved up to $660m in commitments to four funds including alternatives.
Accoding to a press release from PennSERS, within the multi-strategy asset class, the board approved a commitment of up to $100m to Apollo Hybrid Value Fund to focus on private equity/credit investments. This investment furthers the strategic initiative of concentrating commitments to top-tier private credit managers.
It said that within the private equity asset class, the board approved a commitment of up to $100m to TSG8 to focus on middle-market buyouts of branded consumer companies. The investment furthers the strategic initiative of making fewer and larger commitments to top-tier managers.
Within the real estate asset class, the board approved a commitment of $300m to Oak Street Real Estate Capital Net Lease Property Fund to focus on a series of funds targeting triple-net lease strategies. This investment supports the strategic initiative of building long-term strategic partnerships by investing in world class top-quartile funds.
In addition, the board voted to contribute $160m to the CenterSquare Investment Management REIT account.
The investments will be funded from cash, subject to successful contract negotiations.
Established in 1923, SERS is one of the nation's oldest and largest retirement plans for public employees, with more than 239,000 members and assets of approxima...................... To view our full article Click here
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