NIC approves $50m commitment

The US public pension has re-upped with Genstar Capital Partners' flagship buyout fund series.

Institution: Nebraska Investment Council
Headquarters: Lincoln, United States
AUM: $31.4 billion
Allocation to alternatives: 11.8%

Nebraska Investment Council has agreed to commit $50 million to Genstar Capital Partners X, according to the pension’s March 2021 board meeting notes.

The $31.4 billion US pension fund has previously committed to each of Genstar X’s two immediate predecessors, with $50 million each allocated to Genstar VIII and Genstar IX 2017 and 2019 respectively.

Genstar Capital’s 10th private equity vehicle is currently in market targeting $8 billion in LP commitments. The firm is also raising an additional $2 billion overage sidecar vehicle to assist with the financing of larger deals.

NIC currently has a 5 percent target allocation to private equity, which currently stands at 5.7 percent.

As illustrated below, the pension’s recent private equity commitments have predominantly targeted buyout, venture capital and growth equity funds across North America and Europe.

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