Pennsylvania Public School Employees' Retirement System, Harrisburg, committed up to $1.07 billion total to seven funds this week, confirmed spokeswoman Evelyn Tatkovski.
The $51.2 billion system committed up to $600 million in real estate funds: up to $300 million to Blackstone Real Estate Partners VII, an opportunistic fund focused primarily in the U.S. and Canada; up to $200 million to Carlyle Realty Partners VI, an opportunistic fund focused on single-property transactions in the U.S.; and up to $100 million to DRA Growth & Income Fund VII, which is focused on direct and indirect controlling equity interests and loans.
Private equity commitments totaling up to $220 million were: up to $100 million to Capital International Private Equity Fund VI, focused on emerging markets growth equity and control buyouts; up to $70 million to Milestone Partners IV, focused on control buyouts of lower middle-market growth companies; and up to $50 million to Orchid Asia V, focused on growth equity companies in China.
The system also committed up to $250 million to Palmetto Fund, an insurance-linked securities fund managed by Nephila Capital.
