FRS Trust Fund has approved $900m into buyouts fund

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, US
AUM: $235.16 billion
Allocation to private equity: 9.5%

Florida Retirement System Trust Fund has confirmed $900 million worth of private equity commitments across four vehicles, according to the Q2 report published on the pension’s website.

The commitments comprise of:

• A total of $200 million to Hellman & Friedman Capital Partners XI
• A total of $86 million to Quantum Energy Partners VIII
• A total of $14 million to Quantum Energy Partners VIII Co-Investment Fund
• A total of $600 million to Lexington Co-Investment Partners VI-F

The US public pension fund with a total value of $235.16 billion has a target of 9.7 percent in private equity; however, its current allocation in this area is slightly below that at 9.5 percent. As of March 2023, the pension fund’s private equity investments were valued at $22.34 billion.

As shown below, the pension fund primarily focuses on diversified vehicles that aim for buyout returns.

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