PSERS approves $200m commitment

The US pension fund has backed Carlyle's latest real estate offering.

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $64.2 billion
Allocation to alternatives: 37.2%

Pennsylvania Public School Employees’ Retirement System has agreed to commit $200 million to Carlyle Realty Partners IX, according to the pension’s latest board resolution.

Carlyle‘s ninth series opportunistic vehicle is currently in market targeting $6 billion in LP capital, which would make fund IX the firm’s largest private real estate vehicle raised to date.

The $64.2 billion US pension fund has an 8 percent target allocation to real estate that currently stands at 9.7 percent.

As illustrated below, Penn PSERS’ recent real estate fund commitments have predominantly targeted diversified value-add and opportunistic vehicles focused on property investments globally.

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