PennSERS adds $350m to alts

The Pennsylvania State Employees Retirement System (PennSERS) approved four new investments across private equity, private credit and real assets totaling $350 million at its most recent board meeting.

The $39 billion pension fund also voted to extend real estate investment consultant NEPC’s contract by 18 months, while freezing the firm’s annual fee at the current 2021 rate through Dec. 1, 2023.

The board approved two commitments within the private equity asset class, which was the top performing asset class, returning more than 43% in 2021 through Sept. 30.

Up to $75 . . .

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