US Public Pensions Invest Record $1.6 Trillion in Alternative Assets
July 18, 2023 | Amanda Albright | Bloomberg
US public pensions have boosted their exposure to private equity to $622 billion, the highest in at least two decades, as part of a push for higher investment returns, according to a new report by the Equable Institute.
Private equity makes up 13% of the state and local retirement plans’ investments as of 2022, compared to 11% the prior year, according to the nonprofit research group, which cited the latest data available. Overall, alternative assets — like private equity, hedge funds and real estate — make up about a third of pensions’ portfolios, amounting to a record $1.6 trillion invested, according to the report released Tuesday.
