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Pennsylvania State Employees’ Retirement System approves €100m in commitments

The US public pension has backed two Europe-focused real estate vehicles.

Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $28.80bn
Allocation to alternatives: 22.12%
Bitesize: $50-100m

Pennsylvania State Employees’ Retirement System has approved commitments of €50 million ($55 million) each to Activum SG Fund VI and Activum SG Fund VI Co-Investment, a contact at the pension informed PERE.

The $26.80 billion US public pension has a 12.0 percent target allocation to real estate that currently stands at 7.20 percent.

As illustrated in the charts below, Pennsylvania has made five commitments to real estate funds with a 2018 or 2019 vintage, which combined constitute $610 million.

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