NB Alternatives receives commitment from Vermont State

The US public pension has made its first commitment to a secondaries vehicle since April 2019.

Institution: Vermont State Retirement Systems
Headquarters: Montpelier, United States
AUM: $4.58bn
Allocation to alternatives: 12.20%
Bitesize: $50-100m

Vermont State Retirement Systems has approved a $70 million commitment to NB Secondary Opportunities Partners V, a contact at the pension informed Secondaries Investor.

NB Alternatives’ fifth series secondaries vehicle is in market targeting $3 billion.

As illustrated below, the $4.58 billion US public pension is a repeat investor to HarbourVest Partners’ secondaries series, having previously committed a combined $165 million to Dover Street funds VIII through X.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.