FRS Trust Fund approves $1.40bn in commitments

The US public pension has backed eight private equity funds.

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, US
AUM: $207.80 billion
Allocation to alternatives: 27.10%

Florida Retirement System Trust Fund has confirmed $1.40 billion-worth of private equity commitments to eight vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of $100 million to Thoma Bravo Discover Fund III, $200 million to Thoma Bravo Fund XIV, $150 million to TPG Growth V, $200 million to Apollo Accord Fund IV, $200 million to Audax Mezzanine Fund V, $200 million to MSD Private Credit Opportunity Fund SMA, $200 million to OHA Tactical Investment Fund and $150 million to Orion Energy Credit Opportunities Fund III.

The $207.80 billion US public pension has a 6.0 percent target allocation to private equity that currently stands at 8.10 percent.

As illustrated below, the pension fund’s recent commitments are to funds focused on the business services, technology, financial services and healthcare sectors within the Asia-Pacific, Europe and North America regions.

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