December 2024 Public Plan Commitment Summary

In December, Dakota tracked over $7.2B across 105 investments from 40 distinct pension funds or entities disclosing their commitments. 

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

The Top Allocators for the Month:

  • State of Wisconsin Investment Board disclosed $1B in new commitments
  • New York State Common Retirement Fund reported an additional $850M in commitments
  • Washington State Investment Board reported $600M in commitments

Asset Classes:

  • Private Equity: A total of $3B was directed into 44 investments, making up approximately 42.2% of the month’s commitments.
  • Private Credit: $1.2B was invested through 16 deals, constituting 16.8% of the total.
  • Private Real Estate: This category saw $1.8B allocated across 27 investments, representing 26.1% of commitments.
  • Real Assets/Infrastructure: $525M was allocated across eight investments, accounting for 7.2% of the month’s total.
  • Venture Capital: $255M was invested across six investments, approximately 3.5% of investments.

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Sub-Asset Classes:

  • Private Equity: Buyouts made up 23% of overall commitments, with $1.67B allocated to 19 funds ranging from lower middle market to large buyout strategies.
  • Private Credit: Opportunistic strategies attracted $524M in commitments, equal to 7.2% of the total. Direct Lending strategies accounted for 5.5% of investments, attracting $403M to the asset class.
  • Real Assets: Infrastructure investments saw over $275M in commitments, representing 3.8% of the month’s allocations. 
  • Real Estate: Opportunistic and value-added strategies accounted for $929.8M, which was 12.8% of the investments tracked in December.

Significant Allocations in November:

  • Washington State Investment Board - KKR North America Fund XIV (Private Equity): $600,000,000
  • New York State Common Retirement Fund
    • Warburg Pincus Capital Solutions Founders Fund (Private Credit): $300,000,000
    • Clearlake Capital Partners VIII (Private Equity): $300,000,000
  • Wyoming State Loan and Investment Board - Carlyle Property Investors (Real Estate): $250,000,000

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Smaller Allocations:

    • Cincinnati Retirement System - Timber Bay Fund III (Private Equity): $5,000,000
    • Fairfax County Educational Employees' Supplementary Retirement System - Berkshire Multifamily Credit Fund IV (Real Estate): $5,000,000
  • City of Manchester Employees Contributory Retirement System
    • Heitman RE Debt Partners III (Real Estate): $5,000,000
    • HarbourVest Opp III (Infrastructure) - $3,000,000

To explore more Public Pension Plans and industry turnover, book a demo of Dakota Marketplace!

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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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