As an investment salesperson, we know it’s incredibly important to know exactly where public pension funds are making their investments. However, we also know that keeping up with those details can be quite a large undertaking for any given person, especially given the sheer number of pension funds across the country.
At Dakota, we’ve been fundraising since 2006, and have raised over $40B for our partners in that time. We’ve made it part of our DNA to stay on top of public pension fund investments, and we want to help make these updates as accessible to our peers as possible.
In this article, we’re breaking down the largest public pension allocations to Private Credit by General Consultants in 2021. By the end of this list, you’ll have a great starting point to fully understand which consultants are making the largest allocations.
1. RVK: $3,163,000,000
Investment strategies:
- ICG Excelsior SCSp: $750,000,000
- Brookfield Special Investments Fund: $300,000,000
- BSI Co-Investment (C): $300,000,000
- KSL Capital Partners Tactical Opportunities Fund I: $250,000,000
- Blantyre Special Situations Fund II: $240,000,000
- KSL Capital Partners Credit Opportunities Fund III: $150,000,000
- PDC Opportunities IX: $123,000,000
- Blantyre Capital Madison Square Fund II: $100,000,000
- Ares Pathfinder Core Fund: $100,000,000
- KSL Capital Partners COTO Co-Invest I: $100,000,000
- Strategic Value Special Situations Fund V: $100,000,000
- PIMCO BRAVO IV: $100,000,000
- Ares Pathfinder Core Fund: $100,000,000
- Kayne Partners BDC: $100,000,000
- Ares Pathfinder Core Fund: $100,000,000
- GoldenTree Distressed Fund IV: $75,000,000
- Ares Pathfinder Fund: $75,000,000
- CapitalSpring Investment Partners VI: $50,000,000
- Centerbridge Special Credit Partners IV: 50,000,000
2. Wilshire Associates Inc.: $1,973,000,000
Investment strategies:
- Whitehorse Liquidity Partners IV: $400,000,000
- Apollo Strategic Origination Partners: $200,000,000
- Kartesia Credit Opportunities SMA: $150,000,000
- Barings European Private Loan Fund III: $150,000,000
- Federated Hermes' International Unconstrained Credit Strategy: $125,000,000
- Carlyle Credit Opportunities Fund II: $100,000,000
- PIMCO Income: $100,000,000
- Strategic Value Special Situations Fund V: $100,000,000
- ArrowMark Specialty Finance Credit: $100,000,000
- Kartesia Credit Opportunities V SCS: $100,000,000
- Strategic Value Special Situations Fund V: $75,000,000
- PIMCO DISCO III: $50,000,000
- GoldenTree Structured Products VII: $50,000,000
- GoldenTree Distressed Fund IV: $50,000,000
- CapitalSpring Investment Partners VI: $50,000,000
- CapitalSpring V: $50,000,000
- GoldenTree Distressed Fund III Extension: $40,000,000
- ABRY Senior Equity VI: $40,000,000
- Neuberger Berman Insurance Linked Strategies Fund: $35,000,000
- FP Credit Zocdoc Co-Investment: $8,000,000
3. Cliffwater: $945,000,000
Investment strategies:
- Arbour Lane Credit Opportunity Fund III: $175,000,000
- AG Essential Housing Fund II: $150,000,000
- Marblegate Onshore Partners Fund II: $100,000,000
- Taconic European Credit Dislocation Onshore Fund III: $100,000,000
- Comvest Credit Partners V: $100,000,000
- Hayfin Healthcare Opportunities Fund US Parallel: $100,000,000
- CapitalSpring Investment Partners VI: $85,000,000
- Alcentra Structured Credit Opportunities Fund IV: $50,000,000
- Juxtapose Ventures II: $35,000,000
- 400 Capital TX COF II: $25,000,000
- WTI Fund X: $25,000,000
4. Verus: $832,000,000
Investment strategies:
- Whitehorse Liquidity Partners IV: $200,000,000
- Redwood Drawdown Domestic Fund III: $200,000,000
- Arbour Lane Credit Opportunity Fund III: $150,000,000
- ICG North American Private Debt Fund II: $125,000,000
- Ares Capital Europe V: $40,000,000
- Angelo Gordon Credit Solutions Fund II: $30,000,000
- ABRY Senior Equity VI: $27,000,000
- Tennenbaum Capital Partners Direct Lending Fund VIII - S: $25,000,000
- Strategic Value Special Situations Fund V: $15,000,000
- ABRY Senior Equity VI: $15,000,000
- Strategic Value Special Situations Fund V: $5,000,000
5. Meketa Investment Group: $790,000,000
Investment strategies:
- Strategic Value Special Situations Fund V: $150,000,000
- CVC Credit Partners EU DL II Co-Invest: $150,000,000
- Strategic Value Special Situations Fund V: $125,000,000
- Blue Torch Credit Opportunities Fund: $100,000,000
- Hg Titan 1: $75,000,000
- Strategic Value Special Situations Fund V: $75,000,000
- Ares Pathfinder Fund: $75,000,000
- ASI Hark Capital III: $40,000,000
6. Albourne: $690,000,000
Investment strategies:
- Whitehorse Liquidity Partners IV: $400,000,000
- Audax Direct Lending Solutions Fund II: $250,000,000
- ABRY Senior Equity VI: $40,000,000
7. NEPC: $575,000,000
Investment strategies:
- GoldenTree Distressed Fund IV: $100,000,000
- Crayhill Principal Strategies Fund II: $70,000,000
- Monomoy Credit Opportunity Fund: $50,000,000
- CVI Credit Value Fund V: $30,000,000
- Carval Investors Credit Value Fund V: $30,000,000
- WTI Fund X: $25,000,000
- Cross Ocean European Special Situations Fund IV: $25,000,000
- HarbourVest Direct Lending Fund: $25,000,000
- GoldenTree Distressed Fund IV: $25,000,000
- Bain Capital Special Situations Asia II: $25,000,000
- Bridge Debt Strategies IV: $25,000,000
- Arcmont Nashville SMA: $20,000,000
- Monroe IV Private Debt Fund: $20,000,000
- Crayhill Principal Strategies Fund II: $18,000,000
- Bain Capital Special Situations Asia II: $17,000,000
- Grain Management Fund III: $15,000,000
- Eagle Point Fund: $15,000,000
- Strategic Value Special Situations Fund V: $10,000,000
- Brightwood Capital Fund V: $7,500,000
- MB Special Opportunities Fund II: $7,500,000
- Bain Capital Special Situations Asia II: $5,000,000
- Crayhill Principal Strategies Fund II: $5,000,000
- Crayhill Principal Strategies Fund II: $3,000,000
- HarbourVest Direct Lending Fund: $2,000,000
8. AON Hewitt: $555,000,000
Investment strategies:
- Brookfield Real Estate Finance Fund VI: $200,000,000
- Oaktree Avalon Co‐Investment Fund II: $100,000,000
- Sixth Street Opportunities Partners V: $75,000,000
- Castlelake Income Opportunities II: $75,000,000
- Carlyle Credit Opportunities Fund II: $75,000,000
- Kerberos Capital Fund III: $30,000,000
9. Callan Associates: $500,000,000
Investment strategies:
- H.I.G Whitehorse Direct Lending 2020 Fund: $200,000,000
- ABRY Senior Equity VI: $100,000,000
- Comvest Credit Partners V: $100,000,000
- Crestline Specialty Lending Fund III: $100,000,000
10. Cambridge Associates: $470,000,000
Investment strategies:
- Oaktree Fund of One: $250,000,000
- Searchlight Opportunity Fund II: $200,000,000
- Crestline Opportunity Fund IV: $20,000,00
