by Andres Ramos, Content Marketing Specialist – eVestment Private Markets
In a recent blog post we wrote about the highlights of Private Equity and Private Debt investing by public pension allocators in 2019. The findings were part of a special, year-end edition of the Private Markets Monthly Monitor, a monthly report from eVestment Private Markets about public pension investing activity in the private markets. In addition to Private Equity and Private Debt, the report also covers Real Estate and Real Assets.
Check out some of the highlights from Real Estate and Real Assets commitments for the year below.
In 2019, a reported $28.7 billion was committed to Real Estate funds by 96 public plans. The top three public pension investors by total dollars committed were CalPERS ($5.11 billion), Arizona State Retirement System (ASRS) ($1.76 billion), and Oregon PERS ($1.50 billion).
CalPERS’ $5.11 billion was spread across 12 commitments in Core Real Estate with large allocations reported to GI Partners ($1.15 billion), GID Investment Advisers ($1.07 billion), and Commonwealth Partners ($875 million).
In 2019, a reported $21.2 billion was committed to Real Assets by 82 public plans. The top three public pension investors by total dollars committed were CalPERS ($3.40 billion), Oregon PERS ($2.27 billion), and NY State Common Retirement Fund ($1.47 billion).
After CalPERS, NY State Common Retirement Fund reported the second largest average commitment amount with an average of $245 million per commitment. In total, they allocated nearly $1.5 billion across six commitments, with a focus on Infrastructure funds. Commitments included $500 million to Brookfield Infrastructure Fund IV and $300 million each to Morgan Stanley’s North Haven Infrastructure Partners II and Blackstone Infrastructure Partners.
Read the Private Markets Monthly Monitor for access to the full list of 2019 Top 10 Real Assets public pension investors.