Pennsylvania Public School Employees' Retirement System, Harrisburg, will invest $1.1 billion in real estate and private equity funds, according to the $54 billion retirement system's website. It committed up to €300 million ($378.18 million) in the Permira IV private equity fund; up to $200 million in TPG Partners V; up to $112.5 million to Gleacher Mezzanine Fund II; up to $100 million each to ARCap Real Estate Special Situation Mortgage Fund and Quaker BioVentures II; and up to $75 million to LEM Real Estate Mezzanine Fund II. The system also will invest up to $150 million in Apollo Real Estate Finance Corp.
The fund had roughly 9.4% of its assets in private equity and 4.8% in real estate as of Sept. 30, according to data supplied to Pensions & Investments.
