TLDR: PE still dominates institutional investor mandates in H1
Key Points:
- Allocators poured in over $16 billion across private equity, credit, real assets, and hedge funds in June.
- PE managers received half of all mandates, with California Public Employees’ Retirement System leading in activity.
In the first half of 2024, institutional investors continued to prioritize private equity mandates, with PE managers receiving half of all mandates. In June alone, over $16 billion was allocated across alternative asset classes, with private equity accounting for $8.8 billion in activity. The California Public Employees’ Retirement System played a significant role in June’s activity, reporting $8.6 billion in mandates for the second quarter.
On average, roughly $12 billion is being committed monthly across alternative asset classes, with each month typically totaling upwards of 100-plus mandates. Private equity continues to dominate on a strategy basis, with funds accepting allocations across vintage strategies and increasingly in co-investment offerings. Credit, real assets, and hedge funds also saw activity in June, with credit accounting for $1.6 billion in capital moves, while real assets and infrastructure logged $3.2 billion and $780 million in mandates respectively. Hedge funds saw $1.2 billion in tickets being awarded.
The article provides a detailed breakdown of the investor mandates in June, showcasing the various managers and funds receiving allocations. The California Public Employees’ Retirement System, Ares Management, TPG, and various other firms received significant allocations across different strategies and asset classes.
