July 2025 Public Plan Allocations | Commitment Summary
July 2025 Public Plan Allocations | Commitment Summary
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In July, Dakota tracked over $9.7B across 120 investments from 41 distinct pension funds or entities disclosing their commitments. In this article, we highlight the top allocators and allocations made in the month of July by these public institutions:
The Top Allocations for the Month
Teachers' Retirement System of Illinois disclosed $1.6B in new commitments.
New York State Common Retirement Fund reported an additional $1.2B in commitments.
Teacher Retirement System of Texas reported $950M in commitments.
Asset Classes
Private Equity: A total of $2.8B was directed into 41 investments, making up approximately 34.2% of the month's commitments.
Private Credit: $1.7B was invested through 20 deals, constituting 16.7% of the total.
Private Real Estate: This category saw $2B allocated across 22 investments, representing 18.3% of commitments.
Real Assets/Infrastructure: $1.8B was committed across 12 investments, accounting for 10% of the month's total.
Venture Capital: $542.3M was committed across 13 investments, accounting for 10.8% of the monthly tally.
Sub-Asset Classes
Private Equity: Buyouts made up 20% of overall commitments, with $1.7B allocated to 24 funds ranging from lower middle market to large buyout strategies.
Private Credit: Opportunistic strategies attracted $445M in commitments, equal to 4.2% of the total. Direct Lending strategies accounted for 3.3% of investments, attracting $365M to the asset class.
Real Assets: Infrastructure investments saw over $941.5M in commitments, representing 13.3% of the month’s allocations.
Real Estate: Opportunistic and value-added strategies accounted for $1.3B, which was 10.8% of the investments tracked in July.
Significant Allocations of July
Brighter Super - Queensland Riparian Agriculture and Food Transition Trust (QRAFT) (Real Assets): $494M
Teachers’ Retirement System of Illinois - Winton Trend Fund Limited (Hedge Funds/Liquid Alternatives): $400M
New York State Common Retirement Fund - Thoma Bravo Fund XVI (Private Equity): $300M
Smaller Allocations
City of Mobile Police & Firefighters' Pension - Ironsides Co-Investment Fund VII (Private Equity): $6.5M
Texas County & District Retirement System
Khosla Ventures IX (Venture Capital): $6M
Khosla Ventures Seed G (Venture Capital): $2M
FairfaxCounty Educational Employees' Supplementary Retirement System
