PennSERS commits $50m to Asia Alternatives’ third fund
The Pennsylvania State Employees’ Retirement System (PennSERS) has committed $50 million to Asia Alternatives' third fund-of-funds, which was launched early last year with a target of $1 billion. As of September 2011, it had attracted $375 million, according to regulatory filings.
PennSERS confirmed its investment alongside a $75 million commitment to AXA Private Equity's latest secondary fund. The pension fund had $24.1 billion under management at the end of 2011, of which $6.3...
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