Private Markets Monitor: May 2023
by Andrés Ramos, Content Marketing Specialist – Nasdaq Private Fund Solutions
Overview
In May 2023, 34 public pension plans reported a total of $6.85 billion in commitments to private equity funds, with an average commitment size of $73.7 million. A total of 93 commitments were reported in the month.
Most Active Pension Plan Investors by reported commitments – May 2023
Massachusetts PRIM, $1.6 billion across 8 reported commitments
- TA Associates – $370 million
- Hellman & Friedman – $300 million
- GTCR – $285 million
NY State Common Retirement Fund, $1.2 billion across 5 reported commitments
- Khosla Ventures – $1.0 billion
- TowerBrook Capital Partners – $200 million
- Insight Partners – $25 million
Minnesota State Board, $500 million across 3 reported commitments
- KKR – $200 million
- TA Associates – $150 million
- CVC Capital Partners – $150 million
Texas Muni, $350 million across 4 reported commitments
- Arcline Investment Management – $100 million
- Parthenon Investors – $100 million
Alaska Permanent, $292 million across 11 reported commitments
- Crestline Investors – $100 million
- Genstar Capital – $55 million
- TA Associates – $50 million
Top Fund Managers by number of reported commitments – May 2023
- Khosla Ventures – 1 reported commitment, $1.0 billion
- TA Associates – 8 reported commitments, $850 million
- HarbourVest Partners – 3 reported commitments, $500 million
- CVC Capital Partners – 3 reported commitments, $426.5 million
- Hellman & Friedman – 4 reported commitments, $390 million
What does the future hold for private equity funds?
In addition to tracking past commitments and providing unique LP insights, the Nasdaq eVestment platform tracks investors’ asset allocation weightings and details on project and confirmed funds coming to market. Click the button below to request a fundraising intelligence pack.
The intel pack features a list of 5 under-allocated LPs and insights on GP competitors coming to market.
Overview
In May 2023, 13 public pension plans reported a total of $1.7 billion in commitments to private debt funds, with an average commitment size of $118.3 million. A total of 15 commitments were reported in the month.
Most Active Pension Plan Investors by reported dollar commitments – May 2023
NY State Common Retirement Fund, $500 million
- Golub Capital – $500 million
Minnesota State Board, $250 million
- Sixth Street – $150 million
- Castlelake – $100 million
Louisiana Teachers, $200 million
- Ares Management – $200 million
Connecticut Retirement, $150 million
- Hg Capital – $150 million
Indiana Public Retirement System, $150 million
- Ares Management – $150 million
Top Fund Managers by number of reported commitments – May 2023
- Golub Capital – 2 reported commitments, $500 million
- Ares Management – 3 reported commitments, $450 million
What does the future hold for private debt funds?
In addition to tracking past commitments and providing unique LP insights, the Nasdaq eVestment platform tracks investors’ asset allocation weightings and details on project and confirmed funds coming to market. Click the button below to request a fundraising intelligence pack.
The intel pack features a list of 5 under-allocated LPs and insights on GP competitors coming to market.
Overview
In May 2023, 10 public pension plans reported a total of $2.0 billion in commitments to real estate funds, with an average commitment size of $118.0 million. A total of 17 commitments were reported in the month.
Most Active Pension Plan Investors by reported dollar commitments – May 2023
North Carolina Retirement System, $1.0 billion
- Blackstone – $500 million
- BlackRock – $300 million
- TPG Global – $200 million
Montana Board of Investments, $350 million
- Equus Capital Partners – $100 million
- Everwest Fund Advisors – $100 million
- Bell Partners – $50 million
- DRA Advisors – $50 million
- Stockbridge Capital Group – $50 million
NY State Common Retirement Fund, $300 million
- Waterton Residential – $300 million
Contra Costa County ERA, $110 million
- Cross Lake Partners – $60 million
- Long Wharf Capital – $50 million
Top Fund Managers by number of reported commitments – May 2023
- Blackstone – 1 reported commitment, $500 million
- Waterton Residential – 2 reported commitments, $360 million
- BlackRock – 1 reported commitment, $300 million
What does the future hold for real estate funds?
In addition to tracking past commitments and providing unique LP insights, the Nasdaq eVestment platform tracks investors’ asset allocation weightings and details on project and confirmed funds coming to market. Click the button below to request a fundraising intelligence pack.
The intel pack features a list of 5 under-allocated LPs and insights on GP competitors coming to market.
Overview
In May 2023, 13 public pension plans reported a total of $2.0 billion in commitments to real assets funds, with an average commitment size of $89.6 million. A total of 22 commitments were reported in the month.
Most Active Pension Plan Investors by reported dollar commitments – May 2023
NY State Common Retirement Fund, $716.5 million
- EQT Fund Management – $450 million
- Antin Infrastructure Partners – $266.5 million
Texas Muni, $300 million
- Excelsior Energy Capital – $150 million
- Pearl Energy Investments – $150 million
LACERA, $196.4 million
- Appian Capital Advisory – $150 million
- Nuveen Asset Management – $46.4 million
Indiana Public Retirement System, $160 million
- KKR – $160 million
Connecticut Retirement, $150 million
- Grain Management – $150 million
Top Fund Managers by number of reported commitments – May 2023
- EQT Fund Management – 1 reported commitment, $450 million
- Antin Infrastructure Partners – 1 reported commitments, $267 million
- KKR – 3 reported commitments, $160 million
- Appian Capital Advisory – 2 reported commitments, $150 million
What does the future hold for real assets funds?
In addition to tracking past commitments and providing unique LP insights, the Nasdaq eVestment platform tracks investors’ asset allocation weightings and details on project and confirmed funds coming to market. Click the button below to request a fundraising intelligence pack.
The intel pack features a list of 5 under-allocated LPs and insights on GP competitors coming to market.
Intelligent Fundraising
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Data included in this report is sourced exclusively through information available in our Market Lens tool, a one-stop platform offering access to underlying documents and information from public plans and their consultants, including investor profiles, asset allocation studies, commitment pacing plans, peers’ pitchbooks and much more.
Clients use this information for up to the minute insights into market trends, and to better identify prospective investors and access more granular information to tailor pitches and presentations to accelerate their fundraising and enhance investor relations.
