Pennsylvania State Employees’ Retirement System approves $75m commitment

The US public pension has backed a North American-focused private debt fund.

-

Institution: Pennsylvania State Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $26.89bn
Allocation to alternatives: 21.70%
Bitesize: $50-100m

Pennsylvania State Employees’ Retirement System has approved a commitment of up to $75 million to Clearlake Opportunities Partners II, a contact at the pension fund informed Private Debt Investor. Clearlake Capital Group’s fund is investing in structured equity, distressed equity, and opportunistic credit investments in North American, middle-market companies.

As illustrated in the charts below, the $26.89 US public pension has made five commitments to funds focused on private debt with a vintage of 2018 and 2019, which combined constitute $440 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.