Pennsylvania State Employees' Retirement System, Harrisburg, rehired StepStone Group as private equity consultant for its $39.9 billion defined benefit plan, confirmed Pamela J. Hile, system spokeswoman, in an email.
The system issued a request for information in March due to the Oct. 5 expiration of StepStone Group's contract.
The system's board on Thursday approved a new five-year contract beginning Oct. 6. There were no other finalists.
As of Dec. 31, the actual allocation to private equity was 15.7%; the target is 12%.