The Pennsylvania State Employees' Retirement System has an investment portfolio valued at $37.50 billion as of March 31, 2024, with investments in publicly traded equities, real estate, private equity, fixed-income securities, hedge funds, infrastructure, and cash. As of March 31, 2024, the private equity portfolio was valued at $6.78 billion, representing 18.1% of the total portfolio, including $3.61 billion invested in buyout strategies. That is a decrease from September 30, 2023, when the private equity portfolio was valued at $6.85 billion. The portfolio is currently within the target allocation range of 14% to 18%. Private equity investments include buyouts, co-investment, mezzanine, secondaries, diversified private equity, private equity growth expansion, and venture capital strategies diversified across geographical locations around the globe. The plan's investments are governed by an eleven-member retirement board, with Mr. Gregory Thall serving as Chairman of the Board of Directors. NEPC, Callan Associates, and Stepstone Group serve as LP Consultants.
| Investor | Type | Based in | Focus | AUM | Contacts |
|---|---|---|---|---|---|
| Morgan Stanley Investment Management | Fund of Funds | New York | Debt & credit · Core · Co-investment | $1.6T | 1 |
| Blackstone Group - Fund of Funds and Secondary | Fund of Funds | New York | Multifamily · Industrial · Core | $1.1T | 16 |
| New York Life Investment Management | Asset Manager | New York | Multifamily · Industrial · Co-investment | $740B | 5 |
| Brookfield Asset Management | Asset Manager | Toronto, Canada | Multifamily · Industrial · Opportunistic · Joint venture | $690B | 12 |
| KKR | Asset Manager | New York | Multifamily · Industrial · Core · Co-investment | $553B | 11 |
| Ares Management | Asset Manager | Los Angeles | Multifamily · Industrial · Core | $546B | 16 |
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