As 2014 wraps up, predictions of what 2015 has in store for private equity have abounded. One trend of note from this year is the strong limited partner interest in funds that focus on the lower and upper ends of the middle market. Moving forward, LPs may be planning for a dip in public markets, possibly leading to a resurgence in buyout activity in the upper middle market, even as an anticipated rise in interest rates could concurrently spur activity in the lower end. Whether or not these predictions come true, we thought we'd take a quick look at how major LP allocations to PE—of the $60 billion+ in mandated private equity capital worldwide that PitchBook currently tracks—are responding to these trends.
- The $180.7 billion California State Teachers' Retirement System is targeting $3.2 billion in additional commitments to PE.
- The United States' third largest pension fund, the New York State Common Retirement Fund, is targeting an additional $3.8 billion in commitments to private equity.
- Canada’s Public Sector Pension Investment Board is currently targeting an additional $4.2 billion for the asset class.
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