Idaho PERS Allocates $410M to Private Equity in 2024 Deals

The Public Employee Retirement System (PERS) of Idaho said it committed a total of $370M to five private equity funds, with a potential $40M to another growth vehicle, in deals made during 2024.

Recently released materials from its December 16, 2024, board meeting showed that the pension allocated $85M each to Platinum Equity Small Cap Fund II, Hamilton Lane Equity Opportunities Fund VI-A, and KKR North America Fund XIV; €68M (~$75M) to BDC V; and $40M to EPIC Ventures VII – all managed by existing relationships with the pension. Meanwhile, staff and Hamilton Lane also recommended an investment of $40M in GTCR Strategic Growth Fund II, in a deal that would represent a new manager to the pension’s portfolio.

As of September 30, 2024, Idaho’s private equity policy carries a 7.38% actual weight against an 8% target allocation, representing $1.8B out of the pension’s approximately $25.2B in total plan assets.

Written By: Dakota

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Idaho PERS Allocates $410M to Private Equity in 2024 Deals

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