By
David G. Barry            

The Pennsylvania
State Employees’ Retirement System (SERS) board has committed to a pair of
secondary funds from Ardian and a real estate fund from Oak Street.

The SERS Investment Committee approved an up to $100 million allocation to
Ardian Secondaries Fund IX L.P. and up to $50 million to Ardian Sidecar
Co-Investment Vehicle. It also approved up to $75 million to Oak Street Real Estate
Capital Fund VI, L.P.

SERS, according to materials presented at its September meeting, reported a
negative 4.4% return for the fiscal year ended June 30 against a benchmark of
negative 5.7%. It has $38 billion in assets.