and bond values has shaved about $3 billion off Pennsylvania’s State Employees’ Retirement System during the second quarter, staff and consultants warned trustees in Thursday’s investment meeting.
To be sure, higher bond yields will eventually boost returns, as SERS’ managers buy more of the newer bonds, noted Thomas H. Shingler, of Callan LLC, one of SERS’ investment advisers.Real estate returns are still “very strong,” and private equity has not lost as much value as public shares — but “we expect those to cool,” he said. Shingler said inflation will likely drive up commodity prices, but warned against betting too much on those “very volatile” assets.
“We are the largest buyer in the market,” Senequier added, “and we focus on the largest transactions,” in Europe and Asia, as well as the U.S. A second recommendation was issued for Oak Street Capital Real Estate Capital Fund VI. The Oak Street Capital group, based in Pittsburgh, was recently acquired by Chicago-based Blue Owl Capital.
Biden, Inc. 🔥🎻🤣