April 2026 Public Pension Brief

Highlights from April:

Indiana Public Retirement System disclosed an extensive slate of commitments totaling over $2.1 billion, including $830M to Oaktree Sycamore, $570M to Bain Opportunistic Credit, $150M to Francisco Partners VIII, and additional allocations to Kennedy Lewis Fund IV, Stride Consumer Fund II, and PIMCO Volatility Absolute Return, alongside a recommended strategic asset allocation overhaul effective July 1, 2026.
New York State Teachers Retirement System approved more than $1.3 billion in commitments across real estate, infrastructure, private credit, and private equity, including $200M each to Manulife Comvest Credit Opp Fund II, Manulife|Comvest Specialty Lending Fund I, and JFL Equity Investors VII, plus €200M to Aermont Capital RE Fund VI.
Washington State Investment Board approved $1.4 billion in commitments, including a $900M Evergreen Park Investment Fund private equity co-investment, $400M across two General Catalyst venture funds, $300M to Monarch Capital Partners VII, and $200M across Spark Capital IX and Spark Capital Growth VI.
New Jersey Division of Investment committed $1.7 billion across private credit, real estate, and private equity, including $600M to Lexington Global Feeder NJ, $400M each to Blue Torch Credit Opportunities NJDOI Fund and Townsend NJ Real Estate, and $125M to US Industrial Club VII.
Virginia Retirement System disclosed two rounds of commitments totaling $2.45 billion, including $750M to Barings Portfolio Finance, $500M to BlackRock 32 Capital, $300M each to Ares SSG Capital Partners VII, Quad-C XI, and BlackRock Global Allocation, plus $100M to Stonepeak Opportunities Fund II.
Arkansas Teacher Retirement System recommended $900 million in private credit and private equity commitments, including $500M to KKR Multi-Asset Private Credit and $300M to Brookfield Credit ATRS Beacon Investment Fund, alongside a 2026 Private Credit Pacing Plan targeting up to $800M across two diversified managers.
Texas Municipal Retirement System approved a 2026 Private Market Commitment Pacing Plan totaling $4.75 billion, including $2 billion to private credit, $1.75 billion to private equity, and $1 billion to real assets.
Nebraska Investment Council approved Federated Hermes Core Plus Bond as the new manager for an approximately $2 billion mandate, selected over finalists Loomis Sayles and Reams, while Cook County Annuity and Benefit Fund selected Bivium Capital for its Manager of Managers mandate with an allocation of up to $350 million.
National Employment Savings Trust (NEST) awarded Crescent Capital Group a £450 million (~$605M) allocation under its U.S. direct lending mandate, while Fonds de compensation commun (FDC) of Luxembourg awarded €500 million (~$585M) global real estate mandates to CBRE Investment Management Indirect Limited and LaSalle Investment Management.
Border to Coast Pensions Partnership (LGPS Pool) formally welcomed seven additional Local Government Pension Scheme funds, bringing total assets to nearly £120 billion, while London LGPS CIV Ltd added Buckinghamshire Pension Fund to its pool, bringing total membership to 33 funds.
School Employees Retirement System of Ohio (OHSERS), Ohio State Highway Patrol Retirement System, City of Knoxville Pension Board, and Indiana Public Retirement System all approved new strategic asset allocations effective July 1, 2026, reflecting broader plan-level repositioning into private markets, infrastructure, and diversifying credit.
New York City Comptroller's Office named Monte Tarbox permanent CIO of NYC Retirement Systems and launched a $4 billion NYC Housing Investment Initiative; State of Wisconsin Investment Board announced the retirement of Anne-Marie Fink as CIO of Private Markets & Funds; Future Fund (Australia) appointed Richard Brandweiner as CIO effective July 1, 2026; Smart Pension Master Trust promoted James Lawrence to CIO; and San Mateo County Employees' Retirement Association appointed Paul Okada as CEO succeeding Scott Hood.

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April 2026 Public Pension Brief

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