Florida State Board of Administration, Tallahassee, allocated $1.6 billion to 13 investment programs, including $200 million to Davidson Kempner Institutional Partners for a multistrategy hedge fund, according to John Kuczwanski, FSBA communications manager.
The FSBA, which oversees a total $165.2 billion, also committed €75 million ($101.4 million) to CVC Capital Partners VI and €58 million to AXA LBO Fund V, managed by AXA Investment Managers Private Equity. Both are European-focused funds.
In addition, FSBA committed $200 million to Apollo Investment Fund VIII, a private equity fund managed by Apollo Global Management; $75 million to W Capital Partners III, managed by W Capital Management; and $50 million each to Thoma Bravo Special Opportunities Fund I and Denham Commodity Partners Fund VI, managed by Denham Capital Management.
In addition, FSBA committed $150 million each to debt funds BlackRock Carbon Capital V and Providence Debt Fund III, managed by Providence Equity Partners and special situations fund GI Partners Fund IV.
In addition, FSBA committed to distressed debt: $200 million to Varde Fund XI (C), managed by Varde Partners; $150 million to Cerberus Institutional Real Estate Partners III, managed by Cerberus Capital Management; and $50 million to TriGate Property Partners II, managed by TriGate Capital.
Cambridge Associates, Hamilton Lane and Townsend Group assisted.