In November, Dakota tracked over $18.6B across 115 commitments from 35 distinct pension funds and other public institutional investors. In this article, we highlight the top allocators and allocations made in the month of November by these public institutions:
The Top Allocators for the Month
- California Public Employees’ Retirement Systems disclosed $11.7B in new commitments
- Ireland Strategic Investment Fund reported an additional $2.2B in commitments
- Washington State Investment Board reported $1.4B in commitments
Asset Classes
- Private Equity: A total of $8.8B was directed into 47 investments, making up approximately 40.9% of the month’s commitments.
- Private Credit: $6.2B was invested through 36 deals, constituting 31.3% of the total.
- Private Real Estate: This category saw $1.6B allocated across 10 investments, representing 8.7% of commitments.
- Real Assets/Infrastructure: $1.7B was allocated across 13 investments, accounting for 11.3% of the month’s total.
- Venture Capital: $153M was invested across six investments, approximately 5.2% of investments.
Sub-Asset Classes
- Private Equity: Buyouts made up 18.3% of overall commitments, with $4.2B allocated to 21 funds ranging from lower middle market to large buyout strategies.
- Private Credit: Opportunistic strategies attracted $2.2B in commitments, equal to 9.6% of the total. Direct Lending strategies accounted for 10.4% of investments, attracting $610M to the asset class.
- Real Assets: Infrastructure investments saw over $1.4B in commitments, representing 7.8% of the month’s allocations.
- Real Estate: Opportunistic and value-added strategies accounted for $1B, which was 4.3% of the investments tracked in November.
Significant Allocations in November
- California Public Employees' Retirement Systems
- Ares Special Opportunities Fund III (Private Credit): $1.6B
- Three Pillars Secondaries Fund (Private Equity): $750M
- Ares Credit Investment Partnership (CP), L.P. - SME II Co-invest Pool (Private Credit): $750M
- GSC I (Private Equity): $700M
- Ireland Strategic Investment Fund - KKR Global Infrastructure Investors V (Infrastructure): $750M
- Washington State Investment Board - Warburg Pincus Global Growth 15 (Private Equity): $600M
Smaller Allocations
- Town of Plymouth Retirement System - PRIT Vintage Year 2026 (Private Equity): $5.5M
- Arapahoe County Retirement Plan - Portfolio Advisors Secondary Fund V (Private Equity): $5.3M
- University of Alabama System Endowment - Tembo Capital Mining Fund IV Co-Investment (Real Assets): $5M
