Florida State Commits $375M To PE, VC Funds

The $149.7 billionFlorida State Board of Administrationis investing $375 million in private equity and venture capital funds,Pensions & Investmentsreports. The Tallahassee, Florida-based board is investing $150 million in GSO Capital Opportunities Fund II.

It has also allocated $125 million toSummit Partners Growth Equity Fund VIII-Band $100 million to a venture capital fundStrategic Investors Fund V. The board was helped by its private equity adviser,Hamilton Lane, in the selection of the private equity funds GSO and Summit. The search for Strategic Investors was facilitated by the board’s venture capital consultantCambridge Associates.

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