AW Scorecard tallies $2.5bn in private market allocations

Institutional investors continued to pour capital into a variety of private markets including private equity, private credit, hedge funds and real estate, especially in the second half of 2019 as we caught up with some previous allocations into offerings launched at mid-year. A back-of-the-envelope tally of Alternatives Watch reported mandates for the week of January 6 revealed $2.5 billion in new private market allocations. The largest total investment was made by the Michigan Bureau of Investments, which oversees $64 billion in state retirement plan assets. In the second half of 2019, the Michigan Retirement System tapped into 11 funds across private equity and other alternatives strategies with allocations totaling over $1.1 billion. Other pension funds are plotting fresh capital outlays in 2020, including the Arizona State Retirement System in Phoenix that is expanding its credit asset class with a focus on niche private debt strategies that have the potential to outperform much of the system’s portfolio in the years to come. At trustees’ December meeting, the implementation plan was presented for the $42 billion pension system to place $2.6 billion in additional commitments with the fresh capital slated to go to existing managers with expected returns ranging from 10% to 15%. Other active investors in the space include Kentucky Retirement Systems, Sacramento County Employees’ Retirement System, the Teachers’ Retirement System of Texas and the Texas County & District Retirement System. In other institutional investor developments, hedge fund specialist investment consulting firm Aksia inked a deal to acquire Torrey Cove Capital Partners in the first half of this year. Aksia has advised institutional investors on private credit and hedge fund strategies, while TorreyCove has a long-running business in consulting on private equity and real asset strategies. According to a press statement, the firms will advise on more than $160 billion in alternative assets with more than 240 professionals globally, including more than 150 professionals focused on investment research and risk management. Both firms are 100% employee-owned.

AW Scorecard tallies $2.5bn in private market allocations

Continue Reading With a Free Trial

Pensions, VC firms lead the pack in funding low-carbon ag’s future

Former Bessemer CIO joins Bridgewater

Welcome to Alternatives Watch

Buck hires former AndCo exec for manager research

Hybrid VC Firm rolls out second cannabis fund

Finding the single source of truth in private equity data

CalPERS taps PE expertise from Alaska Permanent

QuadPay scores direct lending deals from Goldman Sachs, Oaktree

Blackstone PE arm sells Cheniere stake

Yale endowment returns 6.8%

Most hedge funds see inflows in August

Continue Reading With a Free Trial

Be an Alts Watcher

Subscribe to our mailing list and know first!

Vistria closes with $1.1bn in third fund

Nuveen launches $21bn private capital platform

Related Articles

Get our daily news digest in your inbox

Get our daily news digest
in your inbox