Florida State Board of Administration, Tallahassee, made $1.75 billion in commitments and investments, said John Kuczwanski, communications manager, in an email.
Within its strategic investments asset class, the board, which oversees a total of $201.8 billion, including the $157.7 billion Florida Retirement System, committed $250 million to Blue Torch Credit Opportunities FSBA, a direct lending fund managed by Blue Torch Capital, and $225 million to Cerberus Institutional Real Estate Partners V, a global opportunistic real estate fund managed by Cerberus Capital Management.
Also within strategic investments, the board committed $200 million each to EIG Global Project Fund V, an energy-related infrastructure fund managed by EIG Global Energy Partners, and KLCP Domestic, a distressed credit fund managed by Kennedy Lewis Investment Management, and made a direct hedge fund investment of $200 million in multistrategy hedge fund Hudson Bay Fund, managed by Hudson Bay Capital Management.
Finally, also within strategic investments, the board committed $150 million each to senior debt/direct lending fund PAG Loan Fund IV, and TriGate Property Partners IV, an opportunistic real estate fund managed by TriGate Capital, and $100 million to Patria Infrastructure Fund IV, an infrastructure fund managed by Patria Investments.
As of Feb. 29, the actual allocation to strategic investments was 8.7%; the target is 12%.
In private equity, the board committed $100 million each to buyout fund Rubicon Technology Partners Fund III, and Truebridge FSA II, a venture capital fund managed by TrueBridge Capital Partners; and $75 million to Denham Oil & Gas Fund II a buyout fund managed by Denham Capital Management.
As of Feb. 29, the actual allocation to private equity was 7.6%; the target is 6%.