Public School Employees' Retirement System of Pennsylvania

Overview

Established in 1917, the Public School Employees' Retirement System (PSERS) is a pension fund serving public school employees in Pennsylvania. It provides retirement benefits to full-time and certain part-time public school employees across the Commonwealth. As of June 30, 2023, PSERS managed assets totaling $72.8 billion, serving nearly 251,000 active members and over 250,000 retirees and beneficiaries. The fund's mission is to ensure secure retirement benefits for its members through prudent investment strategies and effective fund management. PSERS employs a diversified investment approach, allocating assets across various classes including fixed income, private equity, real estate, infrastructure, hedge funds, commodities, venture capital, distressed and special situations, ESG and impact investing, crypto, and collectibles & art. The fund engages in investments at different stages, such as growth, buyout, turnaround, and distressed situations, aiming to achieve optimal returns while managing risk. Geographically, PSERS invests in a wide range of countries, including the United States, United Kingdom, Canada, Australia, Germany, France, Japan, China, India, Brazil, South Korea, Mexico, Italy, Spain, Netherlands, Sweden, Switzerland, Belgium, Norway, and Denmark. The fund's investment philosophy emphasizes a long-term perspective, focusing on sustainable growth and value creation. PSERS seeks to balance its portfolio to meet the retirement needs of its members while adhering to fiduciary responsibilities. The fund's diverse portfolio spans multiple industries, including technology, healthcare, financial services, consumer goods, energy, utilities, telecommunications, materials, industrials, real estate, consumer services, basic materials, consumer non-durables, transportation, and media. This broad industry exposure allows PSERS to capitalize on various market opportunities and mitigate sector-specific risks.