Florida State Board of Administration, Tallahassee, committed a total of $665 million to alternative investments with four managers, according to John Kuczwanski, communications manager.
The FSBA, which oversees $163 billion, committed $200 million to Levine Leichtman Capital Partners V, a mezzanine debt fund; and $190 million to TowerBrook Investors IV, a leveraged buyout fund managed by TowerBrook Capital Partners. Hamilton Lane, a private equity and strategic investments consultant to the FSBA, assisted in the searches.
In addition, the FSBA committed $150 million to Bayview Opportunity Master Fund IIIB, a real estate distressed debt fund managed by Bayview Asset Management. Real estate consultant Townsend Group assisted with the search.
FSBA committed $125 million to SVB Strategic Investors VI-B, a venture capital fund managed by SVB Asset Management. Private equity consultant Cambridge Associates assisted in the search.