Florida State Board of Administration has committed a total of $718m across eight managers, including two private equity vehicles and two real estate funds.
The board committed $75m to Trident VII, a buyout fund managed by Stone Point Capital, and $68m to Warburg Pincus’ China fund according to John Kuczwanski.
Stone Point’s seventh fund, which is targeting $5.25bn, reportedly held a $1.25bn first close in September according to Buyouts.
Two months ago, Warburg Pincus closed its China Fund at $2bn, with the vehicle acting as a companion to Warburg Pincus Private Equity XII.
In real estate, the board committed $75m to Starwood Global Opportunity Fund XI, managed by Starwood Capital Group, and $50m to AEW Senior Housing Investors III, managed by AEW Capital Management.
Starwood Global Opportunity Fund XI is reportedly looking to raise up $6bn, making it the firm’s biggest fund to date according to Bloomberg.
Florida SBA also committed $200m to Cerberus FSBA Levered Loan Opportunities Fund, managed by Cerberus Capital Management and $150m to LCM Credit Opportunities Fund III, a distressed debt fund managed by LCM Partners.
Its final commitment was $100m to Deerfield Private Design Fund IV, a health-care-focused venture capital fund managed by Deerfield Management.
Copyright © 2017 AltAssets