The board of the $39 billion Pennsylvania State Employees’ Retirement System (PennSERS) selected a private equity investment consultant and approved several investment-related policy enhancements.
The board selected StepStone Group to provide both non-discretionary private equity consultant services and administrative and back-office support services for PennSERS’ defined benefit plan investment portfolio for a five-year period beginning Oct. 6, 2022. StepStone is the system’s current private equity consultant. Its current contract will expire on Oct. 5, 2022.
The board also adopted a new, enhanced asset allocation policy and approved corresponding updates . . .
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