Insight

SBA Florida backs Trive Capital

SBA Florida is focusing on investing in a buyout fund.

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Institution: State Board of Administration of Florida
Headquarters: Tallahassee, US
AUM: $225.38 billion
Allocation to private equity: 9.3%

The State Board of Administration of Florida has pledged $100 million to Trive Capital’s fifth fund, the Q4 new manager report.

Trive Capital‘s latest fund aims to raise $2.5 billion, following its predecessor, which closed on $1.6 billion in April 2022. This fund will focus on buyouts across various sectors in North America.

The $225.38 billion US pension fund has a current allocation of 9.3 percent allocated to private equity, which is slightly under its 10 percent target.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.