By Muskan Arora
Within its private equity sleeve, the 18.5bn Nebraska State Investment Council has reached its private equity target of 5% for both its DB and Endowment portfolio.
Most allocations within the DB plan were made to direct
defined benefits fund, whereas within its endowment portfolio the system
favoured fund of funds.
Within private equity portfolio, McCarthy Capital Fund VI
and New Mountain Partners VI, hold the most exposure at $69m and $61m, as of
September 30.
To maintain that the system has disclosed new commitments as the year comes to an end.
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As a part of the DB plan’s $150m pacing plan for 2024, consultant Aon with staff recommended a commitment of $50m to One Rock Capital Partners IV and $50m to Trive Capital Partners V.
Focused on special situations, these investments will allow
the system to achieve its tactical plans for this year.
One Rock is a middle market fund focused on operational
value add and industrial sector. The fund will lookout for complex situations
in real economy sectors to find value investment.
Whereas the Trive Capital Fund is a lower middle market fund
focused on utilizing both equity and debt.
“The majority of capital was raised by funds located in
North America, comprising 67.8% of the quarter’s total,” stated the meeting
materials.
“Capital raised by European managers accounted for 20.6% of
capital raised during the quarter, a decrease from 44.3% in Q1 2024,” stated
the meeting meetings, while the rest attributed to Asian managers.
The DB returned 21.7%, 6.1% and 9.6% for its 1-,3- and
5-year return 22.7%, 5.2% and 8.8% as of September 30.
