Pennsylvania pension fund generates 13% return from PE

The entire portfolio delivered 8.6% returns for the same period, with private equity being the best performing asset class, followed by global public equity (11.2%).

The public pension scheme has currently allocated 13.7% of its allocation to private equity, including 8.4% to buyouts, 2.2% to special situations and 3.1% to venture capital.

SERS plans the annual pacing of up to $650m in new private commitments, according to its 2018-2019 investment plan, in a bid to reach its 16% target allocation. Its investment plan also includes research on co-investment options to reduce the management fees.

The US pension scheme has also announced that its board approved up to $75m to Vista Equity Partners Fund VII. The fund is focusing on large-cap investments in enterprise software companies, and it has a target of $12bn.

Other recent commitments include $75m to TCV X, and $100m to Hellman and Friedman Capital Partners IX.

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• Topics
• LPs
• Performance
• United States
• Hellman & Friedman LLC
• Vista Equity Partners