Border to Coast Pensions Partnership, Leeds, England, committed about £370 million ($508 million) to five private equity funds.
The pool, whose 11 member pension funds have total assets of about £46 billion, said in a news release that it raised £485 million of commitments from eight member pension funds in April, about 75% of which has been committed across the five new funds.
The pool committed:
$125 million to AlpInvest Co-Investment Fund VIII, focusing on buyout and growth capital transactions, and managed by AlpInvest Partners.
$100 million to Thoma Bravo Fund XIV, focusing on consolidation and “buy-and-build” strategies in the software sector.
$94 million to KKR & Co.’s KKR Asian Fund IV, an Asian-focused buyout fund targeting middle-market and large-cap companies.
€75 million ($90 million) to Nordic Capital Fund X, run by European buyout manager Nordic Capital and targeting upper midmarket companies specializing in health care, technology and financial services.
£50 million to Endless Fund V, which focuses on distressed companies in the lower middle market.
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