Pennsylvania School Employees’ Retirement System to reduce target allocation to private real estate

The US public pension is intending to decrease its exposure to the asset class.

-

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $55.78bn
Allocation to alternatives: 27.80%
Bitesize: $50-100m

Pennsylvania Public School Employees’ Retirement System is intending to reduce its target allocation to private real estate from its current 9.0% to 8.0% as of the start of Q4 2019, according to the pension’s August Investment Committee meeting.

The $55.78 billion US public pension’s actual allocation to private real estate currently stands at 8.30 percent.

As illustrated in the charts below, the pension has made five commitments to private real estate funds with a 2019 vintage, which combined constitute $900 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.