Florida State Board of Administration, Tallahassee, committed $687 million to funds of six managers, John Kuczwanski, FSBA communications manager, said in an e-mail.
The largest commitment was $200 million to GSO Capital Opportunities Fund III, a mezzanine debt fund managed by GSO Capital Partners.
The FSBA — which oversees a total of $177.4 billion, including the $143.1 billion in assets of the Florida Retirement System defined benefit plan — also committed $150 million each to Crescent Mezzanine Partners VII, a mezzanine debt fund managed by Crescent Capital Group, and BlackRock (BLK) Carbon Capital VI, a real estate debt fund.
It also committed €90 million ($99 million) to Ardian LBO Fund VI, a buyout fund; €45.75 million to European Private Equity Opportunities, a buyout fund managed by Deutsche Beteiligungs, and €35 million to OpCapita Consumer Opportunities Fund II, a distressed debt fund.
The Deutsche Beteiligungs and OpCapita relationships are new. The other commitments involve existing managers.
Cambridge Associates, FSBA alternatives investment consultant, assisted in the commitments.