PSRS/PEERS increases private markets target allocation

Institution: Public School and Education Employee Retirement Systems of Missouri
Headquarters: Jefferson, United States
AUM: $42.23bn
Allocation to alternatives: 25.04%
Bitesize: $10-50m

The Public School and Education Employee Retirement Systems of Missouri has boosted its target allocation to private markets assets from 25.0 percent to 35.0 percent of its total investment portfolio, according to the pension’s April 2020 board meeting minutes. The aim is for PSRS/PEERS to reach its desired private markets target allocation by the end of 2020.

The $42.23 billion US public pension currently allocates 25.04 percent, a little ahead of its former target. PSRS/PEERS’ private markets portfolio comprises of a 1.59 percent allocation to private debt; a 13.92 percent allocation to private equity; and a 9.53 percent allocation to real estate.

As illustrated below, PSRS/PEERS has made four commitments to private debt vehicles with a 2018 or 2019 vintage, which combined constitute $208 million.

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