Pennsylvania School Employees’ Retirement System to boost target allocation to private infrastructure

The US public pension is intending to increase its target exposure to the asset class.

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $55.78bn
Allocation to alternatives: 27.80%
Bitesize: $100-200m

Pennsylvania Public School Employees’ Retirement System is intending to introduce private infrastructure to its investment portfolio as an individual asset class as of the start of Q4 2019, according to the pension’s August Investment Committee meeting. The asset class will have a target allocation of 1.0 percent.

The $55.78 billion US public pension’s actual allocation to private infrastructure (which presently lies within a separate asset class) currently stands at 2.90 percent.

As illustrated in the charts below, the pension fund has made four infrastructure commitments since 2015, which combined constitute $500 million.

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