Michigan Department of Treasury, Bureau of Investments, committed $255 million to private equity funds on behalf of the $72.2 billion Michigan Retirement Systems, East Lansing, in the quarter ended June 30, according to documents from its meeting Thursday.
The commitments went to four funds: €100 million ($112.3 million) to CVC Capital Partners Fund VIII, a large-cap European buyout fund; $75 million to Silver Lake Partners VI, a large-cap buyout fund with a focus on technology; $42.5 million to Meritech Capital Partners VII, a late-stage technology-focused venture capital fund; and $25 million to Renaissance Venture Capital Fund IV, a venture capital fund of funds.
As of June 30, the Michigan Retirement Systems' actual allocation was 20.9% domestic equities, 19.1% private equity, 15.9% international equities, 12.7% fixed income, 12.3% real return and opportunistic strategies, 8.7% real estate and infrastructure, 5.8% absolute return and 4.6% short-term investments.
