US Public Pension Funds commit to Asia Fund

by Patrick Adefuye

  • 08 Dec 2010
  • PE

Investors in Baring Asia Private Equity Fund V, a pan-Asian growth equity fund which is in the market targeting USD 2 billion, include Arizona Public Safety Personnel Retirement System (APSPRS), San Diego County Employees Retirement Association (SDCERA), San Francisco City & County Employees' Retirement System (SFERS) and Teachers' Retirement System of the State of Illinois (TRS).  TRS made the largest commitment of these investors, committing USD 100 million to the fund. SDCERA and APSPRS both committed USD 60 million, while SFERS committed USD 30 million to the vehicle. The fund will invest in growth capital in middle-market companies in Asia, with a focus that includes China and India.

APSPRS, which has total assets of USD 6.1 billion and an 8% target allocation to private equity, typically focuses its investments in this asset class on the US. This commitment increases its emerging markets exposure. TRS only recently made its first Asia investment, to MBK Partners II in February 2009. The pension fund has USD 31.3 billion in assets with 9.5% allocated to private equity as of June 2010.

Further information on the institutional investors in private equity is available via Preqin’s Investor Intelligence.

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