Florida State Board of Administration, Tallahassee, disclosed manager hires and commitments totaling $1.2 billion in the third quarter, said John Kuczwanski, communications manager, in an email.
The board oversees a total of $250.8 billion, including the $203.5 billion Florida Retirement System.
Within global equity, the board hired Wellington Management to run $800 million in an active global value equity portfolio. Funding comes from cash reserves, Mr. Kuczwanski said.
As of Aug. 31, the actual allocation to global equity was 54.7%; the target is 53%.
Within real estate asset, the board committed $100 million each to Carlyle Realty Partners IX, an opportunistic real estate fund managed by Carlyle Group; and CBRE Asia Value Partners VI, a non-core real estate fund managed by CBRE Global Investors; and €75 million ($87 million) to Exeter Europe Logistics Value Fund IV, a real estate fund managed by Exeter Property Group.
As of Aug. 31, the actual allocation to real estate was 8.5%; the target was 10%.
Within private equity, the board committed $75 million to venture capital fund of funds TrueBridge Capital Partners Fund VII, $60 million to buyout fund Falfurrias Capital Partners V, and $16 million to energy-oriented private equity fund Blue Water Energy Fund I, which was purchased on the secondary market, Mr. Kuczwanski said.
As of Aug. 31, the actual allocation to private equity was 9%; the target is 6%.
