Florida State Board's infrastructure debut part of $1.25 billion in commitments
By Barry B. Burr | October 9, 2012 3:20 pm
Florida State Board of Administration, Tallahassee, committed a total of $1.25 billion to two hedge funds and eight other limited partnerships, including its first in infrastructure, according to John Kuczwanski, communications manager.
The $150 million infrastructure commitment was made to Global Infrastructure Partners II. Mercer, infrastructure consultant to the board — which oversees $157.4 billion — assisted in the search, Mr. Kuczwanski said in an e-mail.
Also, $150 million was committed to OZ Domestic Partners II LP, managed by Och-Ziff Capital Management, and $100 million to York Capital Management, both absolute-return hedge funds. Cambridge Associates, the board's hedge fund consultant, assisted.
The board committed $200 million to Carlyle Partners VI, a Carlyle Group buyout fund; distressed debt commitments of $150 million to Wayzata Opportunities Fund III, managed by Wayzata Investment Partners, and $100 million to Oaktree Opportunities Fund IX, managed by Oaktree Capital Management (OAK); and $100 million to Falcon Strategic Partners IV, a mezzanine debt fund managed by Falcon Investment Advisors. Hamilton Lane, private equity consultant to the board, assisted in the searches.
The board also committed $150 million to GS Capital Partners Ventures III, as recommended by venture capital consultant Wilshire Associates; and made real estate commitments of $100 million to Tricon XI A, managed by Tricon Capital, and $50 million to Brookfield Fairfield U.S. Multifamily Value Added Fund. Townsend Associates, real estate consultant of the board, assisted in the search.