Minnesota pension grows private markets exposure by nearly $1bn

St. Paul-based Minnesota State Board of Investments approved on December 2 commitments across seven investment firms in a bid to continue to grow its private market investment exposure across its $99.5 billion portfolio.

The allocations total $950 million and include allocations to two new managers and allocations to private equity, distressed/opportunistic strategies, real estate and private credit. Officials said that private markets commitments can total a maximum of 20% of the underlying fund assets.

Currently private markets accounts for 15.2% or roughly $10 billion of Minnesota’s overall portfolio, but carries . . .

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