The Pennsylvania Public School Employees' Retirement System (PSERS) has committed $845 million to Apollo funds in the last six years, said spokesperson Evelyn Williams. The State Employees' Retirement System (PennSERS) invested $300 million. PSERS paid Apollo $5.4 million in management fees last year and about $8 million the year before. In addition, Apollo was allowed to keep part of the profits from the investments. PSERS plans to post the shared profits Apollo and other firms kept, at its board meeting later this month.

