Insight

Ohio SERS commits $60m to buyout

The Columbus-based public pension fund has backed two funds.

-

Institution: School Employees’ Retirement System of Ohio
Headquarters: Columbus, US
AUM: $17.81 billion
Allocation to private equity: 13%

The School Employees’ Retirement System of Ohio (SERS) has allocated $60 million to private equity, with $50 million going to FS Equity IX and $10 million to FS Equity Partners VIII Near U Co-Investment.

SERS has a diversified investment strategy, with 79 percent allocated to buyouts, 11 percent to special situations and 5 percent each to venture capital and co-investments. Geographically, the majority of its portfolio, 81 percent, is invested in North America, 17 percent in Europe and 2 percent in emerging markets. Currently, SERS consists of 28 GPs overseeing 63 funds and participates in 10 co-investment opportunities.

In the fiscal year 2023, SERS made new commitments of $223 million across four diversified funds and three co-investment vehicles. It  added KKR as a manager. In 2024, SERS plans to further expand its co-investment vehicle.

SERS has a 13 percent allocation, equivalent to $2.31 billion, while their target allocation is 14 percent.

 

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments