Pennsylvania Schools targets more than $1 billion in commitments

Pennsylvania Public School Employees’ Retirement System, Harrisburg, made five commitments totaling $1.014 billion, confirmed spokeswoman Evelyn Tatkovski.

The $48.8 billion pension fund committed €200 million ($257 million) each to ICG Europe Fund V and HayFin Special Opportunities Credit Fund, $225 million to Cerberus Levered Loan Opportunities Fund II, and $200 million to LBC Credit Partners III.

The system also committed up to $75 million to value-added real estate fund RCG Longview Debt Fund V. The system previously committed $175 million to RCG Longview Debt Fund IV in 2008.

PSERS has previously committed a total of $900 million to four different funds managed by Cerberus Capital Management, and $375 million to LBC Credit Partners II.

Investment consultant Portfolio Advisors and real estate consultant Courtland Partners assisted.