Pennsylvania State Employees’ Retirement System, Harrisburg, made $200 million in new commitments, confirmed spokeswoman Pamela Hile.
The $25.7 billion pension fund committed $50 million to FSN Capital IV, FSN Capital Partners’ buyout fund focused on midsized companies operating in the Nordic region. This is the pension fund’s first commitment to FSN.
Additionally, PSERS agreed to commit $50 million to GTCR Fund XI, a buyout fund focused on middle-market companies based in North America. The pension fund has made commitments to several prior GTCR funds.
The pension fund also committed up to $50 million to BAML Capital Access Funds Management to establish and manage the Horizon Impact Fund, a customized private equity fund of funds with the pension fund as the sole limited partner, focusing on private equity funds with capitalizations of $500 million or less in the U.S. lower-middle-market. This is the pension fund’s first commitment to BAML.
The pension fund also committed an additional $50 million to Penn Asia Investors, a fund from Asia Alternatives Management that focuses on opportunistic investments in Asia-based private equity funds, including the Greater China, Japan, Korea, India, Australia and Southeast Asia markets. In 2012, PSERS committed $33 million to the Penn Asia fund.
The commitments were approved at the pension fund’s board meeting on Wednesday.