Pennsylvania Public School Employees' Retirement System related stories
All articles and analysis
PSERS invests in two value-added fundsThe $49.7 billion pension plan’s most recent real estate commitments are intended to help it reach a 40 percent to 50 percent allocation target to the risk strategy over the long term.
- PSERS commits $300 million for investments in funds, co-investments and secondaries
The $49.5 billion pension system will make sizable investments in new value-added funds from Blackstone and Paramount, as well as its own co-investment and secondary program.
- Friday Letter Going, going, gone
Why the auction of Boston’s John Hancock Tower this week marks a very public end to Broadway Partners’ debt-driven strategy, and the beginning of a new era of bargains.
- Friday Letter Celebrity syndrome
With Blackstone already making plans for another fund even as it continues to raise capital for its current offering, competitors and others in the industry are beginning to question whether recent returns match the firm’s celebrity status with investors.
- Beacon closes Fund VI on $2.5bn
The Boston-based firm has held a final close on its latest vehicle, which was originally targeting $6bn.
- PSERS boosts private real estate allocation
The $47bn pension has transferred its 1.5% allocation for public real estate securities to private property investments to help cover $3.4bn of unfunded commitments.
- Crestview announces first deal, $1.4bn from LPs
Crestview Partners, the new firm launched by Goldman Sachs veterans Barry Volpert and Thomas Murphy, has yet to formally announce a final close for its debut fund, but in statement announcing its first deal, the firm said it had amassed $1.4bn in commitments.
- Rocky Mountain high
Denver-based KSL Capital, a former KKR affiliate, has raised more than $1 bn for its first standalone real estate fund.
- Beacon eyes $6bn
The Boston firm continues to target knowledge-based cities at it raises its sixth value-add fund.
- Stockbridge targets $800m for value-added fund
The private equity real estate firm, which last year hired 10 RREEF executives, is targeting IRRs of 16% for its first value-added fund. The firm has also just refinanced a mixed-use redevelopment joint venture in New Jersey for $70m.