The $67bn Pension Benefit Guaranty Corporation is branching out into alternatives and seeking up to three private equity and real estate advisors to manage a $5.5bn alternatives ‘pot’.
The $13bn public pension has committed to private equity funds including Lincolnshire Management and Nordic Capital.
Alternative asset classes were the $154bn New York State Common Retirement Fund’s top performers for the fiscal year, with private equity returning nearly 25 percent. State Comptroller Thomas DiNapoli has indicated legal limits on the pension’s alternative investments should be revisited.
The Oregon Investment Council has also retained its target allocation to private equity at 16 percent.
The South Carolina Retirement System Investment Commission has committed an undisclosed amount of capital to DE Shaw to be invested across a diverse range of investment strategies.
Following a 5 percent loss in the month of June, the $11.4 billion State Board of Investment has made a fresh round of commitments to three private equity funds.
The state’s $154.5bn Common Retirement Fund, the US' third largest public pension, has joined a growing list of heavy-hitting LPs lining up for a fund targeting as much as $20bn.
The US state's $37.6bn national oil fund has launched a $400m fund of funds targeting middle market companies, a departure from its previous private equity programme. It has also made commitments to Goldman Sachs’ and Alinda’s latest infrastructure funds.
The $37.6bn national oil fund has made commitments to Goldman Sachs’ $7.5bn infrastructure fund and Alinda’s second infrastructure vehicle. Alaska has also launched a $400m fund of funds to invest in private equity funds targeting companies valued at less than $1bn.
Richard Laing, chief executive of the UK government’s fund of funds investor in emerging markets, says the mission to reduce poverty is central to CDC’s investment thesis. Latest commitments to Indian managers underline the strategy.