Michigan Department of Treasury, Bureau of Investments, has disclosed $743 million in private equity, real return and opportunistic and absolute return commitments completed in the second quarter on behalf of the $97.4 billion Michigan Retirement Systems, East Lansing.
In private equity, Michigan committed $168 million to buyout fund CVC Capital Partners Fund IX; $150 million to Insight Partners XIII, a venture capital and growth equity fund; $125 million to middle-market buyout fund Genstar Capital Partners XI and $25 million to an associated co-investment, Genstar XI Opportunities Fund I.
In absolute return, the bureau committed $100 million to Irradiant CLO Partners Fund III, a credit fund managed by Irradiant Partners, and $75 million to HarbourVest Infrastructure Opportunity Fund III, an infrastructure fund managed by HarbourVest Partners.
And in real return and opportunistic, Michigan committed $100 million to American Industrial Partners Capital Fund VIII, a buyout fund that invests in middle-market equity and structured solutions.
As of June 30, the Michigan Retirement Systems' actual allocation was 23.3% private equity, 19.7% domestic equity, 13.3% international equity, 10.5% real return and opportunistic strategies, 10.3% real estate and infrastructure, 9.9% absolute return, 9% fixed income and 4% short-term investments.