PSERS approves $200m commitment

The US public pension has backed Bain's new distressed debt fund.

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Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $55.27bn
Allocation to alternatives: 28.40%
Bitesize: $100-200m

Pennsylvania Public School Employees’ Retirement System (PSERS) has agreed to commit $200 million to Bain Capital Distressed & Special Situations 2019, according to the pension’s May board meeting minutes.

The $55.27 billion US public pension has a 2.0 percent current allocation to private debt.

As illustrated in the charts below, PSERS has made five commitments to private debt funds with a vintage of 2018 and 2019, which combined constitute $1.02 billion.

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