US. PennPSERS pushes $1.1 billion into alternatives
Pennsylvania Public School Employees’ Retirement System, Harrisburg, announced $1.1 billion in new alternative fund commitments.
The $72.5 billion pension fund’s board at its Dec. 17 meeting approved commitments of $300 million to Brookfield Global Transition Fund, a real assets fund investing across sectors including industrials, renewable power and utilities, managed by Brookfield Asset Management; €200 million ($226 million) to ICG Europe Fund VIII SCSp, a mezzanine fund managed by Intermediate Capital Group; and $125 million to Bain Capital Special Situations Asia II, a private credit fund managed by Bain Capital Credit, according to a news release emailed Saturday by Steve Esack, pension fund spokesman.
Also, the board announced it had approved commitments in notational ballots on Nov. 19 of $300 million to Brookfield Strategic Real Estate Partners IV, a global real estate fund managed by Brookfield Asset Management, and $150 million to Sixth Street Opportunities Partners V, a private credit fund managed by Sixth Street Partners.
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