In March, Dakota tracked over $21.9B across 182 investments from 48 distinct pension funds or entities disclosing their commitments. In this article, we highlight the top allocators and allocations made in the month of March by these public institutions:
The Top Allocators for the Month:
- California Public Employees’ Retirement Systems disclosed $10B in new commitments
- State of Wisconsin Investment Board reported an additional $1B in commitments
- Los Angeles County Employees’ Retirement Association reported $975M in commitments
Asset Classes:
- Private Equity: A total of $8.1B was directed into 74 investments, making up approximately 37% of the month’s commitments.
- Private Credit: $6.1B was invested through 34 deals, constituting 28% of the total.
- Private Real Estate: This category saw $2.5B allocated across 28 investments, representing 12% of commitments.
- Real Assets/Infrastructure: $2.2B was allocated across 21 investments, accounting for 10% of the month’s total.
- Venture Capital: $2.7B was invested across 23 investments, or approximately 12% of total investments for the month.
Sub-Asset Classes:
- Private Equity: Buyouts made up 25.1% of overall commitments, with $5.5B allocated to 46 funds ranging from lower middle market to large buyout strategies.
- Private Credit: Direct Lending strategies accounted for 12.3% of investments, attracting $2.7B to the asset class. Opportunistic strategies attracted $207M in commitments, equal to 0.9% of the total.
- Real Assets: Infrastructure investments saw over $1.8B in commitments, representing 8.6% of the month’s allocations.
- Real Estate: Opportunistic and value-added strategies accounted for $1.4B, which was 6.7% of the investments tracked in March.
Significant Allocations in March:
- California Public Employees’ Retirement Systems
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- OHA Senior Private Lending Fund (OLEND) (Private Credit): $1.2B
- OHA CA Customized Credit Fund (Private Credit): $1B
- Los Angeles County Employees’ Retirement Association - Onex Credit Partners (Private Credit): $775M
Smaller Allocations:
- City of Fort Lauderdale Police & Firefighters’ Retirement System
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- Taurus Private Markets Fund II (Private Equity): $5M
- Affiliated Housing Impact Fund II (Real Estate): $5M
- Orange County Employees Retirement System - ArchiMed MPII-COI-NMI (Private Equity): $5M
- Texas County & District Retirement System - Adelis Equity Partners Fund IV AB (Private Equity): $5M
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