PS
Pennsylvania State Employees' Retirement System
Pension fund · Founded 1923 · Harrisburg, United States
Pennsylvania State Employees' Retirement System is one of the nation's oldest and largest statewide retirement plans for public employees
Who Pennsylvania State Employees' Retirement System is.
Where the institution came from, whose capital it manages, and how that capital is allocated — from Dealroom's LP research.
Historical Background
- The Pennsylvania State Employees' Retirement System (SERS) was established on March 13, 1923, making it one of the nation's oldest and largest retirement plans for public employees.
- It was created to manage a public pension system providing retirement, disability, and survivor benefits for employees of the Commonwealth of Pennsylvania.
Source of Capital
- SERS is a defined-benefit public pension fund.
- Its capital is sourced from contributions made by state employees and the Commonwealth of Pennsylvania, supplemented by the returns generated from its investment portfolio.
Major Events
- In late 2015, the SERS board engaged an advisory firm to conduct a comprehensive review of its governance structure and policies to identify areas for improvement.
Allocation Strategy
- The fund invests across a diversified range of asset classes including public equities (U.S. and international), fixed income, and alternatives.
- The alternative investment portfolio includes real estate, private equity, and private credit. In June 2024, the board committed up to $100 million to a fund focused on digital infrastructure, which is part of its real estate portfolio.
- As of the end of 2023, the fund's policy targets for asset allocation were: 32% in U.S. Equity, 23% in International Equity, 15% in Private Equity, 12% in Real Estate, 10% in Private Credit, and 8% in Fixed Income.
The funds Pennsylvania State Employees' Retirement System backs.
Pennsylvania State Employees' Retirement System is a limited partner in 198 funds. 20 of them place in the Power Law Investor Ranking, and the best-ranked are shown here.
How Pennsylvania State Employees' Retirement System’s fund book is spread.
The 198 funds Pennsylvania State Employees' Retirement System backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters.
- North America 16382%
- Europe 2513%
- Rest of world 105%
United States 163 · United Kingdom 13 · France 3 · Hong Kong 3
How established those managers are
Managers grouped by how many funds they have raised. 37 emerging (three funds or fewer), 86 established — across the 123 of 198 with a fund history on record.
Other LPs.
Other pension funds in the Power Law LP ranking, closest to Pennsylvania State Employees' Retirement System by combined power-law score — North America first, then the nearest worldwide.