Pennsylvania State Employees' Retirement System board members are reviewing the results of an asset-liability study of the $22 billion system, said Sean Sanderson, spokesman. The study recommends changes to the Harrisburg-based system's asset mix over the next five years, but Mr. Sanderson wouldn't give details. The board also will review a draft of the 2004 investment plan, which will be completed early next year. Rocaton Investment Advisors assisted.
In addition, the board today will receive a recommendation from alternative investment consultant Cambridge that it interview Oaktree Capital Management for a private equity investment and consider whether to make a follow-on commitment to NEA Fund 11. Details on the proposed and current investments could not be learned. A Cambridge report on a benchmark recommendation for measuring its alternative investment returns also will be considered.