August 2024 Public Plan Commitment Summary

September 19, 2024

August 2024 Public Plan Commitment Summary

In August, Dakota tracked nearly $16.7 billion across 156 investments. Throughout this time, 41 distinct pension funds or entities disclosed their commitments.

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

The top allocators for the month included:

Florida State Board of Administration reported $2.1 billion in commitments.
Virginia Retirement System announced commitments totaling $1.8 billion.
New Jersey Division of Investment greenlit $1.7 billion in allocations.

Asset Classes:

Private Equity: A total of $9.8 billion was directed into 88 investments, making up approximately 59% of the month’s commitments.
Private Real Estate: This category saw $2.2 billion allocated across 23 investments, representing 13% of commitments.
Private Credit: $1.7 billion was invested through 23 deals, constituting 11% of the total.
Real Assets: $1.6 billion was allocated across 9 investments, accounting for 10% of the month's total.
Venture Capital: $425 million was spread across 8 investments, or about 3% of total commitments.

Sub-Asset Classes:

Private Equity: Buyouts made up 38% of overall commitments, with $6.2 billion allocated to 39 funds ranging from lower middle market to large buyout strategies.
Real Assets: Infrastructure investments saw over $1.6 billion in commitments, representing 10% of the month’s allocations.
Real Estate: Opportunistic real estate accounted for $1.5 billion, which was 9% of the investments tracked in August.
Private Credit: Opportunistic credit strategies attracted $950 million in commitments, equal to 5% of the total.

Significant Allocations in August:

Norges Bank Investment Management: $1 billion to Copenhagen Infrastructure V.
Virginia Retirement: $750 million to GCM Grosvenor VRS VI.
CPP Investments: $600 million to Thoma Bravo XVI.
Blackstone REP Europe VII: $550 million.
New Jersey DOI: $300 million to GCM Grosvenor Emerging Manager PC SMA.

Smaller Allocations:

City of Fort Lauderdale Police & Firefighters:
- $5 million to Bloomfield Income Fund V
- Agamerica Income: $5 million
Colorado Fire and Police:
- $5 million to Transom Mahogany Co-Invest

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August 2024 Public Plan Commitment Summary