Florida Commits $440 Million to Private Equity in Fourth Quarter

(Bloomberg) -- Florida’s state board of administration committed $440 million to private equity funds in the fourth quarter of 2017, on behalf of the Florida Retirement System, according to a statement. It committed to vehicles including Charlesbank IX, LightBay Investment Partners I, Thoma Bravo Discover Fund II and EnCap Flatrock Midstream Fund IV.

Read more: This week’s Private Equity Brief

In other private fund investor news:

• The Oregon Investment Council was due to hear from Bridgepoint Managing Partner William Jackson and Partner John Barber, regarding Bridgepoint Europe VI, at its Feb. 1 meeting, according to the agenda. Staff recommended the council commit 300 million euros ($374 million) to the pool. The council was also due to discuss its PE annual review and 2018 plan.
• Pennsylvania State Employees’ Retirement System’s board committed as much as $75 million to LLR Equity Partners V, as a follow-on investment, at its Jan. 31 meeting, according to a statement. The pension system committed as much as $200 million to the fund in December 2009, according to data compiled by Bloomberg.
• Chicago Teachers’ Pension Fund is seeking to invest in private commingled funds managed by firms led by minority, women and disabled professionals, according to an RFP. It is open to VC, debt, small and medium buyout, growth, direct lending and co-investment funds.
• The European Investment Bank is considering a 10 million-euro investment in Africa Technology Ventures, a venture capital fund focused on technology startups in Sub-Saharan Africa, according to EIB. The EIB is also mulling an investment in Synergy Private Equity Fund II, a PE pool targeting SME investments in English-speaking West African countries.
• New York State Teachers’ Retirement System’s board agreed to extend PE consultant TorreyCove’s contract for another year from May 1, according to a summary of its Jan. 25 meeting.

To contact the reporter on this story: Ainslie Chandler in New York at achandler14@bloomberg.net.

To contact the editors responsible for this story: Darshini Shah at dshah165@bloomberg.net, Melissa Karsh

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