Florida Retirement System approves $2.09bn in commitments

The US public pension has committed nearly $2.1 billion out of its PE portfolio.

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, United States
AUM: $165.40bn
Allocation to alternatives: 17.50%
Bitesize: $100-200m

Florida Retirement System Trust Fund has confirmed $2.09 billion-worth of private equity commitments to twelve vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of $600 million to Lexington Co-Investment Partners V; $300 million to Asia Alternatives FL Investor III; $200 million to KPS Special Situations Fund V; $200 million to Global Transport Income Fund; $180 million to MCP Private Capital Fund IV; $150 million to WestRiver Innovation Lending Fund VIII; $150 million to Silver Lake Waterman Fund III; $150 million to SASOF V; $50 million to KPS Mid-Cap Fund; $50 million to The Rise Fund II; €35 million ($39 million) to OpCapita Consumer Opportunities Fund III; and $30 million to OpenView Venture Partners VI.

The $165.40 billion US public pension has a 6.0 percent of target allocation to private equity which currently stands at 7.50 percent.

As illustrated below, the Trust Fund has made several commitments to private equity funds with a 2019 vintage, which combined constitute $ 2.68 billion.

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