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Pennsylvania Pension Cuts Allotment to Private Equity, Credit

Dec. 5, 2019, 8:41 PM

Pennsylvania’s state employees’ pension cut allocations to investments such as private equity, private credit and real estate, Treasurer Joe Torsella said in a news release.

  • Pennsylvania State Employees’ Retirement System cut allocation to “illiquid” investments to 26% from 38%, Torsella said
  • Pension raised allocation to fixed income to 26% from 14.5%, reducing risks to the fund, he said
  • “I commend SERS for reducing their overall exposure to expensive, illiquid investments,” Torsella said

To contact the reporter on this story:
Martin Z. Braun in New York at mbraun6@bloomberg.net

To contact the editors responsible for this story:
Elizabeth Campbell at ecampbell14@bloomberg.net...

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