Florida State said to put $826m into flurry of alternatives commitments


Florida State Board of Administration has committed $826m to a group of alternative asset investment funds, it is understood.

TrueBridge Capital Partners’ Fund VI has secured a $100m commitment from the pension fund, communications manager John Kuczwanski told Pension and Investments in an email.

The board also set aside $78m each for Montagu Private Equity’s Montagu VI and Investindustrial’s Fund VII.

London-based Montagu is believed to be seeking up to $3bn for Fund VI according to data published by Unquote.

Investindustrial is looking to raise €3bn for its seventh flagship fund, the WSJ reported earlier this year, citing an unnamed person it said was familiar with the matter.

Other commitments from FSBA included Carnelian Energy Capital’s third fund receiving $75m. The firm held a $775m final close earlier this year.

Hahn & Co’s Fund III bagged a $50m commitment whilst Accel-KKR Capital Partners VI secured $45m to deploy on behalf of the pension fund.

Hahn & Co picked up $2.7bn for its third buyout fund alongside a $500m co-investment fund, Bloomberg reported last month.

The investment board also authorised a $200m commitments to Chambers Energy Capital IV and $125m to Hamilton Lane’s Florida Growth Fund II Tranche II.

Within real estate, the investment manager for the Florida Retirement System committed $75m to Invesco Strategic Opportunities III.

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