Pennsylvania Public School Employees' Retirement System, Harrisburg, approved alternative fund commitments totaling up to $530 million.
The $69.7 billion pension fund's board at its meeting on Friday approved commitments of up to $200 million each to LS Power Equity Partners V, a core infrastructure fund managed by LS Power Equity Advisors, and PIMCO Commercial Real Estate Debt Fund II, a real estate debt fund managed by Pacific Investment Management Co.; and up to $80 million to venture capital and growth equity fund Insight Partners XIII and up to $50 million to potential follow-on vehicles, according to board resolutions posted on its website.
PennPSERS previously committed $20 million to Insight Vision Capital II in 2022 and has not previously made commitments to LS Power Equity Advisors or PIMCO's real estate funds.
As of Dec. 31, the pension fund's actual allocations to equities (public and private) and real assets were 42.3% and 28.2%, respectively; their respective targets are 39% and 28%.
