Pennsylvania State Employees' Retirement System, Harrisburg, approved four new investment commitments totaling up to $350 million, confirmed Pamela Hile, spokeswoman for the $39 billion system.
At its Wednesday meeting, the system's board agreed to commit up to $100 million each to TSG9, a buyout fund managed by TSG Consumer Partners that seeks investments in consumer-product companies; and Ares PA Opportunities Fund, a distressed debt fund managed by Ares Management.
The PennSERS board also agreed to commit up to $75 million each to PSG Europe II, a private equity growth fund targeting software and tech-enabled service companies in Europe; and LEM Multifamily Fund VI, a real estate fund managed by LEM Capital.
In addition, the board agreed to extend its contract with real estate investment consultant NEPC for 18 months.
