In June, Dakota tracked nearly $36B across 203 investments from 46 distinct pension funds or entities disclosing their commitments. In this article, we highlight the top allocators and allocations made in the month of June by these public institutions:
The Top Allocators for the Month:
- California Public Employees’ Retirement Systems disclosed $20.6B in new commitments
- New York State Common Retirement Fund reported an additional $3.6B in commitments
- New Mexico State Investment Council reported $1.9B in commitments
Asset Classes:
- Private Equity: A total of $12.1B was directed into 95 investments, making up approximately 33.6% of the month’s commitments.
- Private Credit: $9.2B was invested through 34 deals, constituting 25.7% of the total.
- Private Real Estate: This category saw $5.2B allocated across 19 investments, representing 14.5% of commitments.
- Real Assets/Infrastructure: $4.1B was allocated across 26 investments, accounting for 11.4% of the month’s total.
- Venture Capital: $994M was invested across 24 investments, approximately 2.8% of investments.
Sub-Asset Classes:
- Private Equity: Buyouts made up 17.8% of overall commitments, with $6.4B allocated to 50 funds ranging from lower middle market to large buyout strategies.
- Private Credit: Opportunistic strategies attracted $3.3B in commitments, equal to 9% of the total. Direct Lending strategies accounted for 1.3% of investments, attracting $455M to the asset class.
- Real Assets: Infrastructure investments saw nearly $3B in commitments, representing 8.3% of the month’s allocations.
- Real Estate: Opportunistic and value-added strategies accounted for $578M, which was 1.6% of the investments tracked in June.
Significant Allocations in June:
- California Public Employees’ Retirement Systems
- Arrowstreet (Delaware) Custom Alpha Extension Fund Q (Hedge Funds/Liquid Alternatives): $4B
- Blackstone Real Estate Debt Strategies V (Real Estate): $1.5B
- PIMCO Asset Based Finance Investment (Private Credit): $1.2B
- Ares Sports, Media and Entertainment Finance II (Private Credit): $1B
- BCSS CLP Investors (Private Credit): $1B
- Bain Capital Special Situations Managed Account (Private Credit): $1B
- Blackstone Real Estate Debt Strategies – Supplemental Account C (Real Estate): $1B
- Blackwell Capital Partners (Private Equity): $750M
- Washington State Investment Board - TPG Partners X (Private Equity): $600M
- Texas Municipal Retirement System - KKR North America Fund XIV (Private Equity): $500M
Smaller Allocations:
- Orange County Employees Retirement System - Mayfield Select III (Venture Capital): $5M
- New York State Common Retirement Fund - Corten Real Estate Fund III (Real Estate): $5M
- Texas Municipal Retirement System - BCIS El Dorado Investors (Private Equity): $2.2M
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