Private Markets Monitor: Q2 2023

by Andrés Ramos, Content Marketing Specialist – Nasdaq Private Fund Solutions

Insights on public pension plan commitment activity

The Private Markets Monitor aggregates and analyzes data from the Nasdaq eVestment platform to deliver insights on reported fund commitments, new fund capital raising activity, and documents of interest across private equity, private debt, real estate and real assets.

Private fund managers can use the report to gather insights on commitment activity to their peer funds, understand overall commitments trends from investors, and learn about which allocators are looking to invest.

Q2 2023 saw a recovery of commitment activity in real assets after the asset class hit a significant nadir with regards to pension plan commitment activity. Private debt and real estate also saw increased activity from the first quarter

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Private Equity Highlights

Reported commitments to private equity from public pension plan investors totaled $17.7 billion in Q2 2023, a 27.6% YoY decrease from the $24.5 billion reported in Q2 2022 and a 12.1% decrease from the previous quarter.

The total number of commitments reported, 215, was the lowest quarterly figure seen since Q3 2020. On average, pension plans allocated $82.4 million per commitment in the quarter.

Alaska Permanent reported more private equity commitments than any other pension plan in the second quarter with 18 commitments to 14 different fund managers. The pension plan allocated $487.2 million total with most of that capital going to Crestline Investors ($100 million) and TA Associates ($100 million). The other 16 reported allocations averaged $18 million in size, demonstrating considerable flexibility from Alaska Permanent in terms of bitesize.

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