PA SERS appoints Seth Kelly as new CIO

Kelly has more than 20 years of experience in the institutional investment industry, most recently as CIO of the Missouri State Employees Retirement System (Mosers). He replaces former CIO Bryan Lewis, who left PA SERS in 2019 to run the defined benefit and defined contribution plans for United States Steel Corp.

Commenting on the appointment, CEO and board secretary of PA SERS Terrill Sanchez said: "Seth Kelly is a welcome addition to the PA SERS leadership team. His strong background in public funds, coupled with his record of leadership and achievement at our sister organisation in Missouri are strong assets that PA SERS will benefit from in the months and years ahead."

PA SERS manages assets totalling some $30bn and has a target allocation to private equity of 14%. The most recent data on the LP shows that its current allocation to the asset class stands at 13.3% (as of September 2019).

Recent funds backed by the LP include CVC Capital Partners VIII, ICG Europe Mid-Market Fund and Permira VII.

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