Pennsylvania Public School Employees' Retirement System, Harrisburg, committed a total of about $967 million to two real estate funds and four private equity funds, documents from the $48.5 billion pension fund show.
At its March 11 meeting, the pension fund committed $200 million to real estate fund Brookfield Strategic Real Estate Partners II, managed by Brookfield Asset Management, and £75 million ($107 million) to Pramerica Real Estate Capital VI, a European real estate fund managed by Pramerica Real Estate Investors. This is the pension fund's second investment with Brookfield and its fourth investment with Pramerica.
In private equity, the pension fund committed $250 million to Strategic Partners Fund VII, a secondary fund managed by Blackstone Group's Strategic Partners Fund Solutions. It also agreed to commit $200 million to Hayfin SOF II USD, a special opportunities fund managed by Hayfin Capital Management. This is PennPSERS' sixth investment with Strategic Partners and third with Hayfin.
Also, PennPSERS committed €100 million ($110 million) to Cinven VI, a pan-European buyout fund, and $100 million to Catterton Partners VIII, a consumer-focused buyout fund. This is the pension fund's third investment with Cinven and sixth with Catterton.
Courtland Partners, PennPSERS' real estate investment consultant, assisted on the Brookfield and Pramerica commitments. Private markets consultant Portfolio Advisors assisted on the other four.
