Alfie Crooks
Buyouts spoke with a spokesperson for the New Mexico State Investment Council to better understand its pacing and co-investment strategy.
Lindsay Goldberg VI is targeting $4bn, with a $4.5bn cap, according to Teachers’ Retirement System of Louisiana’s board documents.
The pension fund, which held its biweekly board meeting October 3, said that it would commit $750m to its private equity portfolio.
The sovereign wealth fund will likely have to increase its commitments to the asset class to $1.5bn in FY2025.
The pacing projections were set a week after the system’s investment committee approved a rebalancing of its funds' private equity target allocations.
The system floated a plan to invest $250m to emerging private equity managers over the next five years.
The system approved a boost in its target private equity allocation up to 20%, from its current target of 13%.
While board members initially expressed enthusiasm for a “Plan A” that would increase allocation to private equity assets, concerns were brought forward regarding potential fees and liquidity constraints.
The fund will create a co-investment underwriting program focusing on private equity assets and increase its private equity commitments by 1 percentage point on a yearly basis.
CERS’s investment committee approved a new plan that would drop the retirement system’s allocation to private equity to 8% from 10%.