Pensions in Los Angeles and San Francisco allocated $159m to private equity funds including Apollo's European distressed debt vehicle.
The US’s largest public pension fund aims to invest 3 percent of its portfolio, or roughly $8.3bn, in infrastructure over the next two years.
The $72.3bn US pension joins a raft of North American funds recording losses for the year to June 30. Once again real estate was the best performing asset class returning 8.74%, followed by fixed income and private equity.
The Pennsylvania Public School Employees’ Retirement System has also approved €150m for Nordic Capital's latest buyout vehicle.
In an increasingly familiar story for US pensions, the Florida Retirement System suffered an overall loss of 4.4 percent despite a strong showing from its alternatives portfolio.
Private equity now makes up 11 percent of the Canadian pension’s capital under management, which has grown to nearly $128bn. The CPPIB has narrowly bucked the loss-making trend among North American pension funds, recording a 1 percent total return on investments in the three months ended in June.
CVC Capital Partners’ latest buyout fund leads the pack with a €500m commitment from the public pension giant.
The $234.2bn pension is mulling a possible change to its private equity allocation, as the twin forces of sinking assets under management and shrinking distributions have combined for an overweighted alternatives exposure.
The $2.7bn Fresno County Employees’ Retirement Association has increased its exposure to private equity and real estate while launching a new ‘real asset’ allocation, which includes infrastructure.
The $2.7bn Fresno County Employees’ Retirement Association has increased its exposure to real estate and private equity while launching a new ‘real asset’ allocation, which includes infrastructure.