Pennsylvania State Employees Retirement System, Harrisburg, committed up to $20 million each in the Eureka II and Lime Rock Resources private equity funds, pending final contract approval, according to Robert Gentzel, system spokesman. The $27 billion system also will make follow-on commitments to four private equity managers: up to $150 million for Blackstone Capital Partners V, bringing its total commitment to Blackstone to $365 million; up to $50 million in Vestar Capital Partners V, raising the total commitment to Vestar funds to $175 million; and up to $40 million each for Apollo Investment Fund VI, raising its total Apollo commitments to $165 million, and OCM Opportunities Fund VI, increasing its total OCM commitments to $284 million. All new and follow-on commitments were funded from cash.
PennSERS had 29% of its total assets, or $7.7 billion, in alternative investments as of Dec. 31. More than $5 billion was invested in private equity funds, with $2.7 billion in venture capital.
