April 2024 Public Plan Commitment Summary

Staying up to date and understanding public pension fund insights is critical for gaining investment industry knowledge and understanding fundraising trends. The insights in this article reveal current investment strategies and market impacts, providing a comprehensive view of large fund allocations and their influence on asset prices. They enable organizations to benchmark their performance against top public pension funds, facilitating better decision-making.

In the month of April, Dakota tracked a total of approximately $8.77 billion across 95 investments. 39 individual pension funds or entities reported commitments during the month.

In this article we are going over the top allocators, allocations, and terminations made in the month of April. By the end of this, you'll have a better understanding of the Public Pension commitments made in the month of April.

The top allocators during the month were:

  • Oregon Public Employees Retirement Fund disclosed $1.5 billion in commitments
  • Teachers Retirement System of Louisiana allocates $770 million
  • New Mexico State Investment Council disclosed investments totaling $700 million

Asset Classes:

$3.2 billion moved to Private Equity across 33 investments which accounts for approximately 37% of commitments. Private Real Estate saw $2.5 billion in commitments, 29% of total commitments across 24 investments. Real Assets took in 17% of commitments with $1.4 billion flowing into the asset class between 11 investments. In Private Credit we tracked $780 million across 12 investments, 9% of commitments. 4 investments totaling over $450 million were allocated to Hedge Funds. Regarding Venture Capital, 11 investments were tracked totaling $370 million.

Sub-Asset Classes:

Stemming from the private equity asset class, Buyouts made up about 19% of commitments, this includes $1.6 billion across 17 middle market and large buyout funds. Within Real Assets, over $1.1 billion was placed across 8 Infrastructure investments making up 13% of commitments. In private credit, Direct Lending accounted for $600 million across 9 investments, 7% of the total for April. Also of note, $952 million was allocated to 10 Opportunistic Real Estate funds.

Looking at the largest allocations in April:

  • Oregon Public Employees Retirement Fund - Pathway Private Equity Fund III-Co - $500M
  • Louisiana TRS - TA Realty Core Property Fund - $400M
  • New York State Common Retirement Fund - NYCRS Artemis Mach III - $400M
  • UniSuper - Macquarie Green Energy and Climate Opportunities Fund (MGECO) - $400M
  • Oregon Public Employees Retirement Fund - Stonepeak Infrastructure Fund V - $350M

Terminations reported in April:

  • City of Austin Police Retirement System terminated Kennedy Capital SCV ($63M)
  • City of Fresno Retirement Systems terminated JP Morgan Strategic Property Fund ($130M)
  • Miami Beach Fire & Police Pension Fund terminated Allspring Global Investments
  • Colorado Fire & Police Pension Association terminated Alphadyne ($14M)
  • Contra Costa County ERA Terminated the Acadian Multi-Asset Absolute Return Strategy
  • NY State Teachers’ Retirement terminated Brookfield Public Securities Group
  • Ann Arbor Employee Retirement terminated the Sculptor Credit Opportunities Fund ($4.7M)

To explore more Public Pension Plans and industry turnover, start your free trial of Dakota Marketplace here. 

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.

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