Institution: California Public Employees’ Retirement System
AUM: $490.18 billion
December 2021: California Public Employees’ Retirement System committed $200 million to Project Stream Co-Invest Fund, as part of its wider commitment of $1.7 billion across nine private equity funds. CalPERS has an 8 percent target allocation to private equity, which currently stands at 8.3 percent.
Institution: Illinois Municipal Retirement Fund
HQ: Oak Brook
AUM: $56.8 billion
February 2022: Illinois Municipal Retirement Fund approved $115 million-worth of commitments to two private equity funds and two co-investments. The commitments comprised $50 million each to Clearlake Opportunities Partners III, $20 million to New Enterprise Associates 18 and $30 million to NEA 18 Venture Growth Equity. The pension will also invest $15 million into co-investment vehicles created by both of the New Enterprise Associates’ managed funds.
Institution: Chicago Policemen’s Annuity & Benefits Fund
AUM: $3 billion
January 2022: Chicago Policemen’s Annuity & Benefits Fund approved $50 million in commitments across two private equity funds. The public pension has made commitments of $25 million each to Mesirow Private Equity VIII-B and Adams Street Co-Investment Fund V.
Institution: Maryland State Retirement and Pension System
AUM: $66.7 billion
November 2021: Maryland State Retirement and Pension System made a co-investment of $15 million to Bain Capital Fund XIII and $14 million associated with Great Hill Equity Partners VII.
Institution: New York State Common Retirement Fund
AUM: $278.4 billion
November 2021: New York State Common Retirement Fund approved a commitment of $125 million to GSO Capital‘s co-investment vehicle. The move was part of a wider commitment of $1.4 billion to private equity.
Institution: Connecticut Retirement Plans and Trust Funds
AUM: $43.7 billion
October 2021: Connecticut Retirement Plans and Trust Funds confirmed a $450 million commitment to HarbourVest CRPTF Co-Investment Partnership at its October investment advisory council meeting. This co-investment will be managed by HarbourVest Partners.
Institution: Rhode Island State Treasury
AUM: $10.6 billion
July 2022: Rhode Island State Treasury committed $30 million to Paine Schwartz Food Chain Fund VI, according to its June 22 investment meeting. It also committed $15 million to a co-investment vehicle alongside the fund.
Institution: Pennsylvania State Employees’ Retirement System
AUM: $39.9 billion
March 2022: Pennsylvania State Employees’ Retirement System approved $400 million in commitments across two investment managers, Francisco Partners and Thoma Bravo. The commitments include $100 million to Francisco Partners VII, $50 million to Francisco Partners Agility III and $50 million to a sidecar vehicle that will co-invest alongside the seventh fund and/or the third agility fund.
Institution: Virginia Retirement System
AUM: $101.8 billion
September 2021: Virginia Retirement System confirmed $1.6 billion-worth of commitments across nine private equity funds, including $100 million to HarbourVest Partners Co-Investment Fund VI.
Institution: Florida Retirement System Trust Fund
AUM: $201.9 billion
February 2022: Florida Retirement System Trust Fund approved $636 million-worth of commitments across eight private equity vehicles, including $100 million to Aegon/FSBA AAM I, which is a co-investment fund. The commitment marks a new manager relationship for the US public pension fund.