Florida’s State Board of Administration committed $426 million to private equity in the third quarter, a source told Buyouts.
The commitments are:
• $45 million to Accel-KKR Capital Partners VI, a buyouts fund with a $2.5 billion target managed by Accel-KKR Capital Partners;
• $75 million to Carnelian Energy Capital III, a $775 million fund focused on North American energy investments and managed by Carnelian Energy Capital that closed in July;
• $50 million to Hahn & Company III, a buyout fund managed by Seoul-based Hahn & Company with a $2.5 billion target that was close to closing as of May 29, according to sister publication Private Equity International;
• €70 billion ($78 million) to Investindustrial VII, managed by European firm Investindustrial and launched in December 2018, according to PEI data;
• €70 billion ($78 million) to Montagu VI, a buyouts fund managed by Montagu Private Equity with a $3.9 billion target, according to a Form D;
• $100 million to TrueBridge Capital Partners VI, a venture fund managed by Truebridge Capital Partners with a $575 million target, according to a Form D.
The commitments are on behalf of Florida Retirement System Pension Plan. As of Aug. 31, Florida SBA had $202 billion in funds under management, according to its website.
Action Item: read Florida SBA’s August Trustees Performance Report here.