Minnesota State Board of Investment has allocated $200 million to secondaries vehicles managed by Goldman Sachs Asset Management and Lexington Partners.
The pension committed $100 million to each of Goldman’s Vintage Fund VII and Lexington’s Middle Market Investors Fund IV , according to details from its 1 December quarterly board meeting.
The Lexington commitment is a re-up, as the pension backed the New York-headquartered secondaries firm’s previous three flagship vehicles. Lexington is targeting $2 billion for Middle Market IV and has already received commitments from Taiwan Life Insurance and City of Tallahassee Pension Fund, according to PEI data.
Goldman is seeking $5 billion for Fund VII and had raised almost $3 billion as of late June, as Secondaries Investor reported.
Minnesota has committed at least $750 million to secondaries funds since 2012 including vehicles managed by Adams Street Partners and Blackstone’s Strategic Partners, according to PEI data.
The pension managed $81.4 billion in assets as of 30 September on behalf of all Minnesota state funds and public pension systems.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: