Private Equity
The retirement fund recently disclosed $60 million in total commitments across private credit and private equity.
The retirement system approved private equity and real assets commitments at its meeting last week.
The fund exceeded its hard cap of $1 billion.
Many endowments, foundations and their allocators point to relatively small or medium-size private equity buyout and early-stage venture capital for returns that outpace the public markets, while private real estate, infrastructure, hedge funds and private debt, especially asset-based lending look like strong portfolio diversifiers in this year’s mercurial environment.
The firm has closed its “largest ever fund.”
The plan added $560 million in recent commitments across private equity, infrastructure and real estate.
The retirement system also approved private equity and real estate commitments totaling $60 million yesterday.
Fund IV exceeded its $500 million target, closing with $521 in total commitments.
The board recently approved real estate commitments and increased previously made private equity commitments.
The plan also made up to $55 million in alternatives commitments in the fourth quarter.