Eighteen months ago, on February 1, 2025, Dakota Marketplace tracked 35,397 public investment records, allocations and commitments reported by public pensions, endowments, foundations, and sovereign wealth funds. Today that number is 66,334, an 87% increase. But the headline growth rate hides the real story: nearly two-thirds of every record added since February 2025 belongs to an allocator type that did not exist in this dataset at all until August 2025.
The growth, start to finish
The Two Curve — Where the lines split apart
Public investment records: total versus core allocators
The two lines in the chart move together for almost the entire period, tracking within a few hundred records of each other from 2022 through mid-2025. Then, starting in mid-2026, they split apart sharply. That split is the story.
The real driver: a new allocator category, not organic growth
Insurance Company General Accounts, the investment portfolios insurers hold to back their liabilities, had zero records in this dataset as of February 2025. Today there are 19,954. The first record appears August 20, 2025. From there, growth was minimal through the rest of 2025 and early 2026, until June and July 2026, which alone account for 18,823 records, 94% of the entire category.
The Insurance Surge — A six-week build, not a gradual one
This was not a gradual build. It reads as a deliberate, large-scale addition of an entire allocator category to the public investment dataset, concentrated almost entirely in a six-week window in the middle of 2026.
A category that did not exist a year ago
Insurance Company General Accounts went from zero records to 19,954, roughly 30% of the dataset. Book a demo to see insurer allocation activity →
Core Allocators — The real core number is 31%
What the rest of the market actually did.
Strip out Insurance Company General Accounts and the underlying growth is more modest, but still real and worth knowing on its own terms.
Core allocators, everything except Insurance, grew from 35,397 to 46,380 records, up 31%, a healthy and steady expansion in its own right. Public Pension Funds remain the largest category by far and drove most of that core growth in absolute terms. Sovereign Wealth Funds grew the fastest by percentage (175%), though off a small base. Foundation and Corporate Pension Plan records were essentially flat.
Separate the two before you cite either
Core allocator growth is 31%, not 87% — a very different number to build a target list on. Book a demo to filter by allocator type →
Asset Class — Private markets did all the moving
Every private markets asset class more than doubled, or came close to it, while public equities and fixed income barely moved. Private Equity added the most records outright (15,393), and Private Infrastructure grew the fastest by percentage (153%). This pattern holds whether or not the Insurance records are included, since insurers report primarily against private-markets sleeves too, so the asset-class growth is not purely an artifact of the new allocator category.
Where the commitments actually went
Private Equity, Credit, Infrastructure, Venture and Real Assets all grew 85% to 153%; public equities and fixed income were flat. Book a demo to screen by asset class →
The Takeaway — What this means for anyone using the data
Treat the headline 87% growth figure with the Insurance caveat attached. Without separating the new allocator category, you would overstate how much the traditional public-plan universe actually expanded. The real core growth is 31%, still solid, but a very different number from 87%.
Insurance Company General Account is now a first-class allocator segment in this dataset, at nearly 20,000 records, roughly 30% of the total. If your work has not accounted for insurer general account activity before, it is now a meaningful share of what is tracked.
Private markets exposure across all allocator types is the dominant growth story. Private Equity, Credit, Infrastructure, Venture Capital, and Real Assets all grew 85% to 153%. Public equities and fixed income were essentially flat.
This looks like an active, recent build, not a finished catalog. The Insurance surge happened in the last two months of available data. Expect continued additions, both to this new category and to core allocator types.
Find the allocators behind the investments
Dakota Marketplace tracks 66,334 public investment records across public pensions, endowments, foundations, sovereign wealth funds, and insurance company general accounts, with private markets exposure making up the largest share of recent growth.
Filter by allocator type, asset class, and investment date, then connect each record directly to the fund, strategy, and decision-makers behind it.
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