Florida Pension Adds $2.5B To Alts.

Oct 16 2014 | 6:02am ET

The Florida State Board of Administration has spent more than $2.5 billion on a wide array of hedge funds and private equity funds.

The $171.8 billion public pension fund made commitments to some 13 alternative investment funds, Pensions & Investments reports. Most of the money, $1.38 billion, went to p.e., and the largest chunk of that went to Inflexion Private Equity Partners, which got $800 million for two funds. Other beneficiaries include Hellman & Friedman ($200 million), SVB Asset Management ($125 million), Charlesbank Capital Partners ($100 million), ABRY Partners ($75 million), Rubicon Technology Partners ($50 million) and OpenView Venture Partners ($30 million).

Caerus Global Investors’ global-macro fund of hedge funds, DT Fund, received $300 million. Gruss Capital Management’s event-driven Investor Enhanced II got $50 million.

In addition, the SBA spent $575 million on distressed-debt funds. CarVal Investors received $200 million of it, Bayview Asset Management $125 million, Centerbridge Partners $100 million and Marathon Asset Management $100 million.

Cambridge Associates assisted on all of the searches.


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