North Carolina Retirement Systems, Raleigh, allocated more than $960 million to a combination of private equity, real estate, credit and inflation strategies, according to documents from its investment committee meeting Wednesday showing new commitments since May.
In private equity, the pension system allocated $150 million to Warburg Pincus Private Equity XI, €75 million ($100 million) to CVC Capital Partners VI, $150 million to Avista Capital Partners III and $75 million to Catterton Growth Partners II.
In real estate, North Carolina allocated $90 million to Rockpoint Group for its Rockpoint NYC CIP Investors fund.
In credit strategies, the system earmarked $150 million to Highbridge Principal Strategies for the Highbridge Irish Specialty Loan Fund III and $84.7 million to GSO Capital Partners for its GSO Capital Solutions Fund II.
In the inflation portfolio, the system added $100 million to GSO Capital Partners' GSO Energy Partners SMA and $15 million to its GSO Bakken Holdings I, plus $50 million to Denham Capital Management's DCPF VI Oil and Gas Co-Investment Fund.
Separately, the $80 billion pension system returned 9.52% for the fiscal year ended June 30, ahead of its 7.25% assumed rate of return and 8.4% market benchmark.