Florida Retirement System Investment Plan approves $693m in commitments

The US public pension has backed six private equity funds.

Institution: Florida Retirement System Investment Plan
Headquarters: Tallahassee, United States
AUM: $164.40bn
Allocation to alternatives: 24.90%
Bitesize: $100-200m

Florida Retirement System Investment Plan has agreed to $693 million worth of private equity commitments to six funds, a contact at the pension informed Private Equity International.

The commitments comprise of $100 million to Trident VIII, $150 million to Searchlight Capital III, $68 million to Warburg Pincus China-Southeast Asia II, $150 million to Advent International GPE IX, $100 million to Blackstone Capital Partners VIII and $125 million to NovaQuest Pharma Opportunities Fund V.

The $164.40 billion US public pension has a 6.0 percent target allocation to private equity that currently stands at 7.10 percent.

As illustrated in the charts below, the investment plan has made eight commitments to private equity funds with a 2019 vintage, which combined constitute $633.2 million.

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