CalPERS leads again, committing over $2.8B to private equity, real estate, and secondaries, including allocations to Advent, Insight, and Landmark.
New York State Common made $1.7B in commitments, including real estate, international buyouts, and infrastructure via EQT and Harrison Street.
Texas TRS backed multiple private equity and private credit funds with a combined value exceeding $1.2B.
Washington State Investment Board committed nearly $1B, reinforcing continued support for global alternatives and co-investments.
Emerging manager activity expanded with new programs and platforms launched or reviewed in California, New Jersey, and Illinois.
Real estate strategies gained traction, with funds like LaSalle and Stockbridge securing new capital across value-add and core-plus mandates.
Co-investments and secondaries in focus, as multiple pensions emphasized enhanced exposure to LP-led deals and fee-efficient structures.
Consultant updates and RFP activity were active, with more than a dozen firms being reviewed, reappointed, or replaced across equity, fixed income, and real assets.