Pennsylvania Public School Employees’ Retirement System has unveiled $1bn of capital commitments for six alternative asset funds.
The board of trustees for the $57bn-managing fund voted for the commitments in a meeting last week, according to an official statement.
PSERS has committed $300m of capital to Platinum Equity Capital Partners V.
Platinum Equity’s fifth flagship fund is looking to raise up to $8bn, and has already registered just over $7.1bn of capital, according to an SEC filing from July.
Hong Kong-based SSG Capital Management secured a $300m commitment for its fifth Asian credit fund from PSERS. SSG Capital Partners V previously secured a $50m commitment from University of Michigan earlier this year.
Within real estate, PSERS lined up a $100m commitment to Bell Partners’ multi-family real estate fund, Bell Institutional Fund VII.
Cabot Properties‘ industrial real estate fund, Cabot Industrial Value Fund VI, also secured a $100m commitment from the ERS.
DRA Advisors’ DRA Growth & Income Master Fund X and Angelo, Gordon & Co’s AG Europe Realty Fund III, both nabbed a $100m commitment each.
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