The Pennsylvania State Employees’ Retirement System (PSERS) has approved two new private equity commitments totalling $150m, according to a report by Private Equity International citing disclosures made at the pension fund’s most recent board meeting.
The commitments include a $130m allocation to Arcline Capital Partners IV, alongside a $20m commitment to Arcline Capital Partners IV Sidecar Co-Invest, both managed by Arcline Investment Management.
Arcline Capital Partners IV will pursue a buyout strategy focused on industrial investments across North America, with final close anticipated in May 2025. The sidecar vehicle is structured to invest alongside the main fund on select transactions.
Arcline’s previous vintage, Fund III, has posted a net IRR of 6.68%, a TVPI of 1.04x, and has drawn down 36.78% of committed capital, per data from Private Equity International.
PSERS continues to implement a strategic plan aimed at concentrating capital into fewer, larger positions with high-conviction managers. The pension system currently holds a 17.4% allocation to private equity, exceeding its policy target of 16%.
