Florida Pours $852M Into Private Equity

Jul 29 2010 | 11:59am ET

The Florida Board of Administration, which oversees the Sunshine State’s largest public pension plan, has made $852 million in new private equity commitments.

The board committed $150 million to corporate mezzanine fund ABRY Senior Equity III, Pensions & Investments reports. It also made six $100 million commitments, to senior loan fund Audax Credit Opportunities, residential whole mortgage fund Bayview Opportunity Master Fund IIB, Blackstone/GSO Capital Solutions, Pantheon Global Secondary IV, and opportunistic debt funds Oaktree Capital Management Opportunities VII and Varde Fund X.

Another €40 million went to Riverside Europe IV and $50 million to Oaktree Capital Management VIIB.

Hedge fund consultant Cambridge Associates assisted with the ABRY and Varde allocations, while private equity consultant Hamilton Lane covered the Audax, Blackstone/GSO, Oaktree, Pantheon and Riverside commitments. Townsend Group, the $138.4 billion board’s real-estate consultant, assisted on the Bayview allocation.

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