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FUNDRAISING NEWS | February 03, 2025
The Florida State Board of Administration (SBA) allocated a total of $1.3B across 14 funds in private equity, real estate, private credit, and real assets, in deals closed throughout the fourth quarter of 2024, according to its recently released new manager report.
In private equity, the pension made commitments to four buyout funds: $150M to Thoma Bravo Fund XVI, $100M to Thoma Bravo Discover Fund V, $100M to MBK Partners Fund VI, and $75M to Frazier Healthcare Growth Buyout Fund XI. Additionally, it allocated $10M each to co-investment funds CB Paris Co-Invest, Webster StrideCare, and 26N Jupiter Co-Investment Partners.
In real estate, Florida SBA committed $300M to Landmark 1, $144M to Modera Marmalade - Mill Creek, $100M to Carlyle Property Investors, and $54M to Montecito III, all under the core real estate sub-asset class. The pension also allocated $150M to value-add fund Principal Data Center Growth & Income.
Lastly, the state pension allocated $80M to L&B Realty REPIMAC Lender in private credit, as well as $10M in co-investment to HEQ Deepwater II under its real assets allocation. Both are commitments to existing managers within the pension’s roster.
Per the latest Dakota data, Florida SBA oversees a total portfolio of approximately $245B in pension assets.
Written By: Dakota
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