In the month of July, Dakota tracked a total of approximately $9.6 billion across 100 investments. 31 individual pension funds reported commitments during the month.
In this article, we're summarizing Public Pension activity for July 2023. By the end of this article, you'll walk away knowing top allocations made, breakdown of asset and sub-asset classes, and the top shifts and terminations.
New York State Common Retirement Fund allocated $1.3 billion
Connecticut Retirement Plans & Trust Funds allocated $910 million
State of Michigan Investment Board allocated $906 million
Indiana Public Retirement System allocated $592 million
Private Equity took in approximately 41% of commitments, Private Credit maintained second with 22% of commitments, Real Estate took in 16% of commitments, Real Assets received about 10% of commitments.
Stemming from the private equity asset class, buyouts made up about 14% of commitments, this includes lower middle market, middle market, and large buyout funds. Also in private equity, it is worth noting that Venture Capital funds made up 11% of commitments. In private credit, Opportunistic Credit made up 14% of commitments. Infrastructure and Value-add Real Estate each made up 10% of total commitments.
NY Common committed $1B to Khosla Ventures Excelsior; $450M to EQT Infrastructure VI; $450M to TA XV
State of Michigan Investment Board committed $326M to SMP Data Center, LLC