Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $39.9 billion
Allocations to alternatives: 24.4%
Pennsylvania State Employees’ Retirement System (PennSERS) has backed real estate fund from Oak Street, a $75 million commitment to Oak Street Real Estate Capital Fund VI, according to their September board meeting.
PennSERS was established in 1923, and is one of the US’s oldest and largest state wide retirement plans for public employees.
The pension has a 7.1 percent allocation to private real estate, which comprises $2.8 billion in capital. It currently has a target allocation of 8 percent.
PennSERS recent fund commitment strategy has been predominantly focused on North American with value-add vehicles, which invest under a variety of sectors.
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