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Alternative Market Briefing

$63.2bn committed to private equity funds by 114 US public plans in 2019

Monday, February 17, 2020

Laxman Pai, Opalesque Asia:

In 2019, a reported $63.2 billion was committed to private equity funds by 114 public plans, said eVestment.

The top three public pension investors by total dollars committed were CalSTRS ($4.87 billion), CalPERS ($4.71 billion), and Washington State Investment Board (WSIB) ($4.55 billion), said the report 'Private Markets Monthly Monitor'.

CalSTRS' two largest commitments in the year both went to Blackstone via a $750 million allocation to Blackstone Capital Partners VIII and a $650 million allocation to Blackstone Strategic Partners VIII, it said.

WSIB matched CalSTRS with a $750 million allocation of their own to Blackstone Capital Partners VIII.

Meanwhile, in 2019, a reported $23.8 billion was committed to private debt by 76 public plans.

The top three public pension investors by total dollars committed were Arizona State Retirements System (ASRS) ($5.61 billion), Texas County ($1.92 billion), and NY State Common Retirement Fund ($1.05 billion).

According to ASRS' Credit Asset Class Implementation Plan FY 2020, the pension plan committed $1.65 billion to HPS, $1.2 billion to Cerberus, and $1.1 billion to Monroe Capital through various fund-of-one vehicles and separate accounts.

Texas County reported 15 commitments in 2019 with notable allocations including $300 million each to One William Street and 400 Capital.

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