North Carolina Retirement Systems, Raleigh, committed a total of $500 million to private equity and inflation-sensitive asset funds.
The $114.6 billion pension fund disclosed the commitments in a report included with the Aug. 23 investment advisory committee meeting materials on the website of Dale R. Folwell, state treasurer and sole trustee of the retirement system. The commitments closed in June and July of this year, according to the report.
Within private equity, NCRS committed $150 million each to Hg Titan 2 A, a co-investment fund managed by HgCapital, and buyout fund Harvest Partners IX. The pension previously committed $102 million to Hg Genesis 10 in 2022.
As of Aug. 11, the pension fund's actual allocation to private equity was 5.4%; the target is 7%.
Within inflation-sensitive assets, the pension fund committed $200 million to MTP Emerald Series III, managed by Magnetar Capital. The pension fund committed $200 million to the previous fund in the MTP series earlier this year.
As of Aug. 11, the pension fund's actual allocation to inflation-sensitive assets was 4.8%; the target is 6%.