FRS Trust Fund approves $350m in commitments

The Tallahassee-based public pension fund has backed three North American private equity vehicles.

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, US
AUM: $182.57 billion
Allocation to alternatives: 27.10%

Florida Retirement System Trust Fund has approved $350 million-worth of commitments across three private equity funds, according to the Q1 transaction report published on the pension’s website.

The fund commitments comprise $150 million to LLCP Lower Middle Market Fund III, $125 million to Peak Rock Capital Fund III, and $75 million to Atlas Capital Resources IV.

The commitment to Levine Leichtman Capital Partners is a newly formed fund manager relationship for the $182.57 billion public pension. LLCP is currently raising $1 billion in commitments for its third mid-market consumer goods lending vehicle.

FRS Trust Fund has a 6.0 percent target allocation to private equity, which currently stands at 8.10 percent.

As illustrated below, the pension fund’s recent commitments have targeted various lending strategies across North America, Europe and Asia-Pacific, focusing on diversified sectors.

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