Pennsylvania State Employees’ Retirement System, Harrisburg, committed $575 million each to absolute-return fund-of-hedge-fund managers Blackstone Alternative Asset Management, Pacific Alternative Asset Management and Morgan Stanley Alternative Investment Partners. It also hired Morgan Stanley to implement an equity overlay strategy for the absolute-return fund-of-funds program, according to Sean Sanderson, spokesman for the $24 billion fund.
In addition, the fund made a follow-on commitment of up to $75 million to HarbourVest Partners VII and committed up to $75 million to OCM Mezzanine Fund, up to $25 million to Berwind Property Group Investment Partnership VI and up to $35 million to The Campbell Timber Fund.
It also hired Rocaton Investment Advisors as general investment consultant.
