Pennsylvania Public School Employees’ Retirement System (PSERS) has committed $150 million to WCP NewCold III, a vehicle of Westport Capital Partners. This commitment was made on Dec. 20, 2024, according to meeting materials.
WCP NewCold III is an opportunistic closed-end fund focused on investing in cold storage warehouses globally. A fundraising goal has not been disclosed. Earlier in December, Sacramento County (Calif.) Employees Retirement System committed $50 million to this fund.
PSERS is a public pension fund that provides benefits to the public-school employees of Pennsylvania. As of June 30, 2024, it had $75.2 billion in total assets under management, with a 6 percent target allocation to real estate assets. It had $6.2 billion allocated to real estate assets.
