North Carolina Retirement Systems, Raleigh, allocated $1.74 billion to 10 managers between September and November, according to documents released after a November investment advisory committee meeting.
In inflation-sensitive strategies, North Carolina committed $500 million to BlackRock's NC Garnet Fund and $268 million to Campbell Timber Fund III, managed by Campbell Global.
In private equity, the pension system committed $250 million to a Blackstone Core Equity Partners co-investment, a buyout fund managed by Blackstone Group; $125 million to Trident Fund VII, a buyout fund focused on financial services managed by Stone Point Capital; and $75 million to Agility Fund, a lower middle-market technology buyout fund managed by Francisco Partners.
The Blackstone co-investment follows a $250 commitment to Blackstone Core Equity Partners that closed Aug. 1.
In non-core real estate, the retirement system committed $100 million to AG Asia Realty Fund III, a value-added focused fund managed by Angelo Gordon & Co.
In core real estate, it committed $100 million to Rockwood Income & Credit Partners, managed by Rockwood Capital.
In opportunistic fixed income, it committed $100 million to Marathon Asset Management's Marathon Currituck Fund Series D, a custom arrangement that includes commitments to Marathon commingled funds and separate accounts in opportunistic credit fixed income.
In public equity, it invested $200 million in the ONSHE Marshall Wace Fund and $25 million in Effissimo Capital Management's ECM Bespoke Fund. Both are hedge funds. Further details were not provided.
