NYC Fire Pension Committed $435.3M to PE Funds in Q2-Q3 ‘24

The New York City Fire Department Pension Fund allocated $435.3M to 18 funds in second and third quarter investments last year, as recently disclosed in materials related to the pension’s December 13, 2024, board session.

A private equity monitoring report provided by general consultant StepStone listed the following commitments made by the pension, transacted in the second quarter of 2024:

Platinum Equity Partners Small Cap Fund II (private equity-lower middle market buyout): $33.3M
Platinum Equity Partners Small Cap Fund II Co-Invest (private equity-co-invest): $16.7M
Clearlake Capital Partners VIII (private equity-large buyout): $52.2M
Clearlake Capital Partners VIII Co-Invest (private equity-co-invest): $22.4M
BPEA EQT Mid-Market Growth Partnership (private equity-large buyout): $19.7
EQT PCA Co-Invest Platform (No.1) (private equity-co-invest): $20.3M
Insight Partners XIII (private equity-growth): $37.5M
Insight Partners XIII Co-Invest (private equity-co-invest): $12.5M
ICG Strategic Equity Fund V (private equity-secondary): $29.5M
ICG Strategic Equity V Co-Investment Fund (private equity-secondary): $29.5M
KLC Fund II (private equity-middle market buyout): $3.7M
KLC Fund II Co-Invest (private equity-co-invest): $1.2M
Dover Street XI (private equity-secondary): $39.5M
Secondary Overflow Fund V (private equity-secondary): $39.5M

Additionally, the New York fire pension made the following allocations from August to September 2024:

OceanSound Partners Fund (private equity-growth): $11.1M
OSP II Co-Invest Sidecar (private equity-co-invest): $6.7M
Sage Equity Investors (private equity-secondary): $26.7M
Sage Equity Investors-N (private equity-secondary): $33.3M

As of the pension’s latest data from September 30, 2024, the New York Fire Department’s private equity portfolio accounts for $1.9B out of the pension’s overall market value of $21.3B.

Written By: Dakota

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