October 2024 Public Plan Commitment Summary

In October, Dakota tracked over $9.6 billion across 128 investments. Throughout this time, 54 distinct pension funds or entities disclosed their commitments.

In this article we are going over the top allocators, allocations, and terminations made in the month of October. By the end of this, you'll have a better understanding of the Public Pension commitments made in the month of October.

The Top Allocators For the Month:

• California State Teachers’ Retirement System disclosed $1.1 billion in new commitments

• Virginia Retirement System reported an additional $737 million in commitments

• State of Michigan Investment Board approved $736 million in commitments

Asset Classes:

• Private Equity: A total of $3.8 billion was directed into 55 investments, making up approximately 40% of the month’s commitments.

• Private Credit: $3.2 billion was invested through 35 deals, constituting 33% of the total.

• Private Real Estate: This category saw $1.2 billion allocated across 23 investments, representing 13% of commitments.

• Real Assets: $670 million was allocated across 9 investments, accounting for 7% of the month's total.

Sub-Asset Classes:

• Private Equity: Buyouts made up 26% of overall commitments, with $2.5 billion allocated to 33 funds ranging from lower middle market to large buyout strategies.

• Private Credit: Opportunistic strategies attracted $1.9 billion in commitments, equal to 19% of the total.

• Real Assets: Infrastructure investments saw over $670 million in commitments, representing 7% of the month’s allocations.

• Real Estate: Opportunistic and value-added strategies accounted for $710 million, which was 7% of the investments tracked in October.

Significant Allocations in October:

• Virginia Retirement System - Apollo Libra: $500,000,000

• Hassan Investment Company - Brookfield Middle East Partners (PE): $500,000,000

• Delaware Public Employees’ Retirement System - Cantillon Global Equity: $350,000,000

• State of Michigan Investment Board - Apollo Accord+ II Fund: $300,000,000

• CalSTRS - Blackstone Capital Partners IX: $250,000,000

Smaller Allocations:

• City of Fresno Retirement Systems - Blue Vista Real Estate Partners: $9,000,000

• Fairfax County Educational - CBRE U.S. Logistic Partners: $6,000,000

• Fairfax County Educational - Linden Capital Partners VI: $5,000,000

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