PSERS approves $150m in commitments

The US public pension has backed two industrial property-focused real estate funds.

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $54.08bn
Allocation to alternatives: 28.40%
Bitesize: $50-100m

Pennsylvania Public School Employees’ Retirement System (PSERS) has agreed to commit $100 million to Exeter Industrial Core Fund III and $50 million to Cabot UK Core-plus Industrial Fund according to its February board meeting minutes.

The $54.08 billion US public pension has a 12.0 percent target allocation to real estate which currently stands at 9.90 percent.

As illustrated in the charts below, PSERS has made five commitments to real estate funds with a 2018 or 2019 vintage which combined constitute $500 million.

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