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By Susan Barreto, Alternatives Watch

The Alternatives Watch Investor Scorecard tracked a total of $7 billion of institutional investor commitments in the month of February spread across 56 investment commitments across active private equity, real estate and private debt aims. 

With increasing prevalence, allocators have been taking either direct stakes in individual companies, eyeing renewable energy prospects and taking on co-investment deals. Going into 2021, the Massachusetts Pension Reserves Investment Management Board and Japan’s GPIF are plotting real estate moves, while the Texas Employees’ Retirement System is looking at opportunistic credit within its growing emerging manager program. 

Overall investors are hungry for yield in a challenging low-interest rate environment. U.S. institutional investors saw a strong close to 2020 with the equity market in the fourth quarter, helping fuel median gains of 12.5% for the year, according to Northern Trust Universe data. The Universe tracks the performance of more than 380 large U.S. institutional investment plans with a combined value of $1.4 trillion and found that pensions reported an annualized median return of 10.9% in 2020. 

Private equity accounted for roughly $3 billion of the activity for the month, while real estate/infrastructure saw $2.7 billion in inflows with fewer than $500 million in allocations going to hedge funds.

The top 10 mandates are ranked in the chart below:  

February Investor Scorecard

InvestorManager nameFund nameAmount ($m)Strategy
Canadian Pension Plan Investment BoardHudson Pacific Properties 
$625 infrastructure
Canadian Pension Plan Investment BoardTransurban Chesapeake (direct investment)$624 private equity
Canadian Pension Plan Investment BoardGoodman Group and APG Asset ManagementJV$414 infrastructure
Canadian Pension Plan Investment BoardGreystar Real Estate PartnersJV$350 real estate
New York State Common Retirement FundI Squared Capital AdvisorsISQ Global Infrastructure Fund III$350 infrastructure
Florida State Board of AdministrationCenterBridgeCenterBridge Capital Partners IV$300 private equity
Florida State Board of AdministrationCerberus Capital ManagementCerberus Corporate Credit SBA $300 debt
Canadian Pension Plan Investment BoardRenewable Power Capital 
$297 infrastructure
Canadian Pension Plan Investment BoardLOGOSJV $200 real estate
Florida State Board of AdministrationBlantyre CapitalBlantyre Special Situations Fund II$200 private equity

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