Pennsylvania State Employees’ Retirement System, Harrisburg, made a follow-on commitment of up to $20 million to Avenue Special Situations VI, confirmed spokesman Robert Gentzel.
The $23.7 billion system previously made five commitments with Avenue Capital Group funds, the most recent being a commitment of up to €25 million ($39 million at the time of the commitment) to Avenue Europe Special Situations in 2008.
The system also made follow-on commitments of up to $12.5 million each to OCM Opportunities funds VIII and VIIIb. The system has made a series of 13 commitments with Oaktree Capital Management funds dating back to 1996, most recently commitments of up to $40 million each to OCM Opportunities funds VII and VIIb in 2007.
A follow-on commitment of up to $10 million was made to JMI Equity VII. Commitments of up to $25 million and $50 million, respectively, were made to JMI V and JMI VI in 2005 and 2007.
Also, the system committed up to $7 million to Asia Alternatives Capital Partners Korea Buyout Investors as a co-investment in Hahn & Co. Korea.
Separately, the system announced it returned 12.6% return in the year ended June 30, with most of the gain in the last six months of 2009. Posting positive quarterly performances were private equity and real estate at 3% each; venture capital at 1.3%; and fixed income at 1.2%. For the rest of portfolio, returns were domestic equity, -11.1%; international equity, -10.1%; global equity, -9.6%; inflation protection, -7.8%; and absolute return, -1.4%.
