LPs

Florida SBA approves $350m in commitments to large funds

The Tallahassee-based public pension fund starts the year with three private commitments.

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Florida

Florida State Board of Administration reported $350 million of commitments across three private equity funds, according to a summary of its first quarter activity.

These commitments comprise:

• $100 million to Stone Point Capital’s Trident IX fund, which has a $7.5 billion target;
• $100 million to Francisco Partners VII with a $12 billion target;
• $150 million commitment to Thoma Bravo XV with a $22 billion target.

The Florida Retirement System Trust Fund has $206.4 billion in assets under management. It has a target allocation of 8.3 percent to private equity.