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SMRS approves $610‬m in commitments

The US organisation has backed nine PE funds.

Institution: State of Michigan Retirement Systems
Headquarters: Lansing, United States
AUM: $74.75 billion
Allocation to alternatives: 41.4%

State of Michigan Retirement Systems has confirmed $610 million-worth of private equity commitments to nine vehicles, according to a document from its June board meeting.

The commitments comprise $100 million to Acorn Bioventures, $100 million to Insight Venture Partners XI, $100 million to Odyssey Investment Partners Fund VI, $75 million to Clearlake Capital Partners VI, $75 million to Flagship Pioneering Fund VII, $75 million to Vista Foundation Fund IV, $25 million to Lightspeed Venture Partners Select IV, $10 million to Lightspeed Venture Partners XIII and $50 million to ArcLight Energy Partners VII.

The $74.75 billion government-related investment organisation has an 18 percent target allocation to private equity that currently stands at 21.2 percent.

As illustrated in the charts below, SMRS devotes 41.4 percent of its full investment portfolio to alternative assets.

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