Florida State Board of Administration, Tallahassee, committed a total of $1.588 billion to 13 managers representing 15 limited partnerships, John Kuczwanski, FSBA communications manager, said in an e-mail.
The FSBA oversees $181.4 billion in total assets, including the $148.6 billion Florida Retirement System defined benefit fund.
It committed a total of $743 million to private equity: $180 million to Blackstone Capital Partners VII, managed by Blackstone Group; £100 million ($156 million) to Montagu V managed by Montagu Private Equity; $100 million to EnerVest Energy Institutional Fund XIV-A; $75 million to Cortec Group Fund VI; $55 million to Waterland Private Equity Fund VI and $27 million to Waterland Private Equity Fund VI Overflow, both managed by Waterland Private Equity Investments; and $50 million each to Thoma Bravo Special Opportunities Fund II; Insight Venture Partners Growth-Buyout Co-Investment Fund; and RCP Fund X, managed by RCP Advisors.
It committed $295 million to distressed debt: $200 million to Oaktree Opportunities Fund Xb, managed by Oaktree Capital Management, and $95 million to Castlelake IV.
It also committed $250 million to Coastline Fund, a flexible strategy managed by BlackRock, and invested $150 million with Overland Relative Value Fund, a hedge fund managed by Overland Advisors.
It committed $150 million to real estate: $100 million to Blackstone Real Estate Partners VIII and $50 million to Heitman Value Partners III.
Cambridge Associates, FSBA alternatives investments consultant, assisted in all the searches except for the two real estate searches, which were assisted by Townsend Group, the board's real estate consultant.
