US - The board of the US$28bn Pennsylvania State Employees' Retirement System (PA SERS) has committed up to $380m in alternative investments.
According to PA SERS, who looks after over 200,000 members, the commitments will be funded from cash as part of a long-term investment plan.
The approved alternative investments include: up to $30m in ABRY Senior Equity II, L.P; up to $20m in AG Capital Recovery Partner V, L.P; up to e60m/$70m in Charterhouse Capital Partners VIII, L.P; up to $35m in Great Hill Equity Partners III, L.P; up to $75m in Madison Dearborn Capital Partners V, L.P; up to $50m in Polaris Venture Partners V, L.P; up to $100m in TA Associates X, L.P
The board also authorised an investment of up to $30m in Lubert-Adler Real Estate Fund V, L.P., as a follow-on commitment.
In addition the board authorised a five-year renewal in its contract with The Hay Group for actuarial services.
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