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PA SERS approves $50m commitment

The US public pension has backed a value-add real estate fund.

Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $29.50bn
Allocation to alternatives: 20.62%
Bitesize: $50-100m

Pennsylvania State Employees’ Retirement System has agreed to commit $50 million to Oak Street Real Estate Capital Fund V, a contact at the pension informed PERE.

The $29.50 billion US public pension has a 12.0 percent target allocation to real estate that currently stands at 6.40 percent.

As illustrated below, PA SERS has made seven commitments to real estate funds with a 2018 or 2019 vintage, which combined constitute $760 million.

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