Pennsylvania Public School Employees' Retirement System, Harrisburg, made three commitments totaling $375 million, confirmed spokeswoman Evelyn Tatkovski.
The $50.5 billion pension fund committed $200 million to Sankaty Middle Market Opportunities Fund II, a middle-market lending fund managed by Sankaty Advisors. The pension fund invested in five previous Sankaty funds, most recently committing up to $350 million to Sankaty Credit Opportunities V in April 2012.
Also, the pension fund committed up to $150 million to Crestview Partners III, a private equity fund. It is the third commitment for the pension fund to a Crestview Partners fund. Previous commitments were $150 million to Crestview Partners in 2005 and $200 million to Crestview Partners II in 2008.
Separately, the pension fund committed up to $25 million to DCPF VI Oil and Gas Co-Investment Fund, managed by Denham Capital Management. The pension fund previously committed up to $100 million to Denham Commodity Partners Fund VI in January 2012, which was cut back to $75 million when the fund closed in April 2012 because of oversubscription.
The pension fund also made a follow-on commitment of up to $15 million to private equity fund Incline Equity Partners III. The pension fund originally committed up to $50 million to the fund in August 2011.
Portfolio Advisors assisted.