Staying up-to-date on where public pension funds are making their investments can be a critical part of an investment salesperson’s day to day. However, it can also be an incredibly time consuming task, 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 going to dive into ten of the largest public pension allocations made to private equity so far this year. By the end of this list, you’ll have a good jumping off point to better understand where funds are being allocated within the Private Equity space.
1. Texas County & District Retirement System: $38,112,000,000
Investment strategies:
- Hellman & Friedman Capital Partners X: $150,000,000
- Genstar & Capital Partners X: $150,000,000
- TA XIV-A: $130,000,000
- H.I.G. Europe Middle Market LBO Fund: $117,265,000
- Nautic Partners X: $100,000,000
- Roark Capital Partners VI: $100,000,000
- Linden Capital Partners Fund V: $85,000,000
- Vida Ventures IIII: $75,000,000
- TA Select Opportunities Fund II-A: $70,000,000
- Pamlico Capital V: $50,000,000
- Shamrock Capital Growth Fund V: $50,000,000
- Lux Total Opportunities Fund: $40,000,000
- Sky9 Capital Fund V: $40,000,000
- IDG Breyer Capital Fund: $30,000,000
- EIV Capital IV Top-Up Fund: $25,000,000
- Genstar Capital Partners X Opportunities Fund: $25,000,000
- Source Code Growth Fund II: $23,000,000
- Lux Ventures VIII: $20,000,000
- TCG Crossover Fund I: $20,000,000
- Mayfield Select II: $18,000,000
- Mayfield XVI: $18,000,000
- Source Code Venture Fund V: $17,000,000
- Shine Capital I: $15,000,000
- Linden Capital Co-Investment Fund V: $15,000,000
- Sky9 Capital MVP Fund II: $10,000,000
2. New York State Common Retirement Fund: $247,700,000,000
Investment strategies:
- H&F X: $580,000,000
- TA XIV: $410,000,000
- Avance Investment Partners: $250,000,000
- FIMI Opportunity 7: $200,000,000
- K5 Private Investors: $50,000,000
- Boyu Capital Fund: $25,000,000
- New Harbor Capital Fund III: $24,000,000
- M2 NY Pioneer Fund III: $20,000,000
- Contour Opportunity Fund III: $20,000,000
- Charger Investment Partners Fund I: $20,000,000
- Primary Select Fund II: $15,000,000
- Viola Venture VI: $10,000,000
- JVP Growth Opportunity X: $10,000,000
- Boyu Capital Growth Fund I: $5,000,000
- 5Y Capital Growth Fund I: $4,800,000
- Kedaara Capital Growth Fund III: $3,603,919
- 5Y Capital Evolution Fund II: $3,300,000
3. State of Wisconsin Investment Board: $128,000,000
Investment strategies:
- Hellman & Friedman Capital Partners X: $350,000,000
- PSG Encore Warehouse Fund: $200,000,000
- Atlas Capital Resources IV: $100,000,000
- Sterling Group Credit Fund II: $75,000,000
- Charlesbank Equity Fund X: $60,000,000
- JMI Equity Fund X: $60,000,000
- Activant Capital IV: $50,000,000
- Hedosophia Partners IV: $50,000,000
- Percheron Capital Fund I: $50,000,000
- Avenue Growth I: $35,000,000
- VMG Partners V: $25,000,000
- New Holland Co-Investment: $25,000,000
- Shamrock Capital Debt Opportunities Fund I: $25,000,000
- Great Range Capital Fund II: $20,000,000
- CharlesBank Equity Overage Fund II: $15,000,000
- Seaside Equity Partners I: $15,000,000
4. University of Texas / Texas A&M Investment Management Company: $49,816,000,000
Investment strategies:
- Green Equity Investors VIII: $200,000,000
- EQT V: $160,000,000
- GTCR Partners XIII/A&C: $135,000,000
- Hillhouse Fund V Feeder: $100,000,000
- GGV Capital VIII: $60,000,000
- JAZZ Human Performance Fund III: $50,000,000
- Mountain Capital Partners II: $50,000,000
- Grain Spectrum Holdings III: $30,000,000
- TPG VIII Westport VI: $26,000,000
- GGV Discovery III: $25,000,000
- GGV Capital VIII Plus $15,000,000
- GTCR Partners XIII/B: $15,000,000
5. Mass PRIM: $90,100,000,000
Investment strategies:
- Hellman & Friedman Capital Partners X: $350,000,000
- TA Associates XIV: $350,000,000
- Thomas H. Lee Equity Fund IX: $200,000,000
- Providence Strategic Growth Fund V: $175,000,000
- Quad C Partners X: $175,000,000
- Insight Partners XII: $150,000,000
- Thompson Street Capital Partners VI: $150,000,000
- TA Select Opportunities Fund II: $115,000,000
- JMI Equity Fund X: $100,000,000
- Insight Venture Partners Fund X Follow-On Fund: $75,000,000
- Insight Partners XII Buyout Annex Fund: $50,000,000
- Flagship Pioneering Fund VII: $30,000,000
6. Colorado Fire and Police Pension Association: $6,574,000,000
Investment strategies:
- Atlas Capital Resources IV: $25,000,000
- Alpine Investors VIII: $25,000,000
- Banner Ridge Secondary Fund IV: $20,000,000
- CORE Industrial Partners Fund II: $20,000,000
- Crosspoint Capital Partners Fund I: $20,000,000
- Stride Consumer Partners: $20,000,000
- Wavecrest Growth II: $15,000,000
- Goodwater Capital IV: $10,000,000
- Goodwater Infinity II: $10,000,000
- Alta Partners NextGen Fund III: $10,000,000
- Foundation Capital X: $5,000,000
- Foundation Capital Leadership Fund III: $5,000,000
7. State of Michigan Investment Board: $87,681,000,000
Investment strategies:
- 5AM Opportunities II: $250,000,000
- HarbourVest Co-Investment V: $200,000,000
- Berkshire Fund C: $150,000,000
- Charlesbank Equity Fund X: $100,000,000
- Turning Rock Fund II: $75,000,000
- Khosla Ventures VII: $50,000,000
- Charlesbank Equity Overage Fund X: $50,000,000
- Insight Venture Partners Fund X Follow-On Fund: $50,000,000
- Khosla Ventures Opportunity I: $25,000,000
- PRIM Vintage Year 2021: $5,000,000
- Khosla Ventures Seed E: $5,000,000
8. Minnesota State Board of Investments: $129,154,000,000
Investment strategies:
- BCP Asia II: $300,000,000
- TPG Growth V: $150,000,000
- TPG TTAD II: $150,000,000
- KKR MN Partnership: $150,000,000
- KKR North American Fund XIII: $100,000,000
- Lubert-Adler Recovery and Enhancement Fund: $100,000,000
- Adams Street Global Secondary Fund 7: $100,000,000
- Thomas H. Lee Equity Fund IX: $90,000,000
- Public Pension Capital II: $35,000,000
- Hellman & Friedman Capital Partners X: $25,000,000
9. Los Angeles Fire & Police Pension System: $28,742,000,000
Investment strategies:
- Greenbriar Fund V: $45,000,000
- One Rock II: $40,000,000
- Astorg MidCap Fund: $30,000,000
- Oak HC/FT Partners IV: $30,000,000
- Prelude Growth Partners II: $15,000,000
- Avance Investment Partners: $15,000,000
- Resolve Growth Partners: $15,000,000
- Acrew Diversify Capital Fund: $15,000,000
- Clearhaven Fund I: $15,000,000
- Harpoon Ventures Management: $10,000,000
10. Alaska Retirement Management Board: $41,000,000,000
Investment strategies:
- Neuberger Berman Secondary Opportunities Fund V: $100,000,000
- Insight Partners XII: $40,000,000
- Genstar Capital Partners X: $25,000,000
- Canaan XII: $10,000,000
- GTCR XIII: $10,000,000
- Thoma Bravo XIV: $10,000,000
- Thoma Bravo Discover III: $10,000,000
- TCV XI: $10,000,000
- Mayfield Select II: $4,850,000
- Mayfield XVI: $4,530,000
