Private Equity
Crescent Cove Fund IV was oversubscribed and with support from a diverse base of institutional investors.
The fund will consider committing $50 million to an existing private equity manager within its portfolio as staff recommended adding a strategy with General Partner stakes.
The plan also added a pair of commitments to a new private equity manager relationship.
The pension plan disclosed commitments totaling $720.7 million in the first quarter.
The commitments target energy and digital infrastructure.
The plan was scheduled to consider RFPs for international and domestic small- to mid-cap growth equities this month.
The state retirement system also disclosed several private markets commitments at last week’s board meeting.
The retirement system also made two private equity commitments last month.
The fund surpassed its $500 million target as well as its initial $750 million hard cap.
The plan will commit $16 million to new private equity managers this year.
