In Q2 2024, public funds investors allocated nearly $38 billion to private funds, signaling a robust interest in alternative investments despite ongoing market uncertainties. While some skepticism persists around retail investors' participation in private markets, the demand for private credit is growing, driven by the search for higher yields in a low-interest-rate environment.
As institutional investors continue to diversify their portfolios, private market allocations, especially in private credit, are set for significant expansion, underscoring the evolving landscape of global asset management. Strategically, these institutional investors have placed billions into private equity, credit, real estate, and private infrastructure driving the growth of alternative investments.
In this article, we uncover the top 10 allocators to private funds during Q2 of 2024. By the end of this, you'll have a better understanding of where these institutional investors allocated their capital to help you anticipate future trends.
For more detailed insights and data, explore our comprehensive platform at Dakota Marketplace.
1. California Public Employees' Retirement Systems
- AUM: $500 Billion
- Q2 Private Fund Allocations: $4,525,000,000
- Location: Sacramento, CA
- Consultants: Wilshire Associates, Meketa Investment Group
2. Mass PRIM
- AUM: $102 Billion
- Q2 Private Fund Allocations: $3,086,000,000
- Location: Boston, MA
- Consultants: NEPC, Meketa Investment Group, Hamilton Lane Advisors
3. CPP Investments
- AUM: $632.3 Billion
- Q2 Private Fund Allocations: $1,825,000,000
- Location: Toronto, Ontario
4. New York State Common Retirement Fund
- AUM: $248.8 Billion
- Q2 Private Fund Allocations: $1,808,000,000
- Location: Albany, NY
- Consultants: Callan, StepStone Group, Townsend Group
5. Virginia Retirement System
- AUM: $110 Billion
- Q2 Private Fund Allocations: $1,725,000,000
- Location: Richmond, VA
- Consultants: AON, Aksia, The Townsend Group
6. Washington State Investment Board
- AUM: $172.9 Billion
- Q2 Private Fund Allocations: $1,625,000,000
- Location: Olympia, WA
- Consultants: Hamilton Lane Advisors, Townsend Group
7. Oregon Public Employees Retirement Fund
- AUM: $90.2 Billion
- Q2 Private Fund Allocations: $1,500,000,000
- Location: Tigard, OR
- Consultants: RVK, Hamilton Lane Advisors
8. Teachers Retirement System of Louisiana
- AUM: $26.3 Billion
- Q2 Private Fund Allocations: $1,350,000,000
- Location: Baton Rouge, LA
- Consultants: AON, Mercer, Hamilton Lane Advisors
9. Connecticut Retirement Plans and Trust Funds
- AUM: $56 Billion
- Q2 Private Fund Allocations: $1,300,000,000
- Location: Hartford, CT
- Consultants: Meketa Investment Group, AON, Hamilton Lane Advisors, Albourne
10. New Mexico State Investment Council
- AUM: $53.5 Billion
- Q2 Private Fund Allocations: $1,210,000,000
- Location: Santa Fe, NM
- Consultants: RVK, Meketa Investment Group, Mercer, The Townsend Group
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