NHRS approves $50m commitment

Name: New Hampshire Retirement System
HQ: Concord, US
AUM: $11.35 billion
Allocation to alternatives: 29.70%

New Hampshire Retirement System has confirmed a $50 million commitment to Dover Street Fund XI, according to materials from its June board of trustees’ meeting minutes.

The vehicle, which is managed by HarbourVest Partners and launched in 2021, has a target size of $13.5 billion, which would make it one of the largest secondaries funds ever raised.

NHRS has a 14.74 percent allocation to private equity, which comprises of $1.67 billion of capital. The LP is currently oversubscribed to the asset class, with a target allocation of 10 percent.

As illustrated below, NHRS’s recent commitments have tended to focus on funds that invest across North America.

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