Florida Retirement System approves $480m in commitments

The US public pension has backed three vehicles focusing on acquiring distressed debt.

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, United States
AUM: $165.40bn
Allocation to alternatives: 17.50%
Bitesize: $100-200m

Florida Retirement System Trust Fund has confirmed $480 million-worth of commitments to three private debt vehicles, a contact at the pension informed Private Debt Investor.

The commitments comprise of $180 million to Metric Capital Partners’ Private Capital Fund IV; $150 million to Silver Lake Waterman Fund III; and $150 million to Sciens Capital Management’s SASOF V fund.

The $165.40 billion US public pension has a 7.90 percent allocation to strategic investments, in which the exposure to private debt is housed.

As illustrated below, the Trust Fund has made commitments to eight private debt funds with a 2018 or 2019 vintage, which combined constitute $975 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.