Pennsylvania SERS Commits $225M to Alternatives

The Pennsylvania State Employees Retirement System (SERS) has disclosed $225 million in new investments made at the September board meeting, according to a press release.

$100 million will be committed to private equity fund, Ardian Secondaries Fund IX. Additionally, $50 million will be committed to the sidecar vehicle that will co-invest alongside Fund IX.

$75 million was committed to private credit fund, Oak Street Real Estate Capital Fund VI. Oak Street Real Estate was acquired by Blue Owl in 2021. SERS previously committed $50 million to Oak Street Real Estate Capital Fund V in 2020.

As of June 30, 2022, Pennsylvania SERS has an actual and target allocation to private equity of 17.6% and 12 % respectively. The actual and target allocation to private credit was 3.3% and 4% respectively.

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