Justin Mitchell

The firm has already raised most of the capital, and has just attracted a $30m commitment from Rhode Island.

Many LPs are looking for opportunities to profit from the market dislocations wrought by the covid crisis, and SVP's track record is appealing.

The firm focuses exclusively on software companies, a sector seeing very positive headwinds amid the covid crisis.

The fund was launched last November, and has already attracted a commitment from Texas Teachers, among others.

CIO Jim Grossman told the $63bn pension's board that staff would focus on slower private equity pacing to reduce its allocation for now.

The fund was launched in November and already has commitments from pension systems in Virginia and Ohio.

Many LPs upped their PE allocations in 2020, but there were some notable exceptions, too.

2020 was a volatile year for the system, with the sudden resignation of the fund's CIO and antagonism between staff and the board -- an environment that shed little light on the future direction for the pension's private equity program.

The firm closed its first fund in June on about $465m, and plans to raise Fund II through the end of next year.

The $116.4bn pension could get the actual allocation up to 11pct by the end of 2021.