Portfolio Advisors receives commitment from PSERS

The US public pension has backed Portfolio Advisors' fourth PE secondaries fund.

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, United States
AUM: $55.78bn
Allocation to alternatives: 34.90%
Bitesize: $50-100m

Pennsylvania Public School Employees’ Retirement System has agreed to commit $150 million to Portfolio Advisors Secondary Fund IV, according to a press release on the pension’s website. PSERS previously committed $125 million to the fund’s predecessor in 2017.

As illustrated in the charts below, PSERS’ recent secondaries commitments have tended to target funds focusing on private equity secondaries transactions.

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