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US public pensions up PE exposure to $622bn

US public pensions have increased their exposure to private equity to $622bn, the highest in at least two decades, as part of an overall record $1.6tn investment in alternative assets, according to a report by Bloomberg.

US public pensions have increased their exposure to private equity to $622bn, the highest in at least two decades, as part of an overall record $1.6tn investment in alternative assets, according to a report by Bloomberg.

The report cites new research from non-profit research group the Equable Institute as revealing that private equity accounted for 13% of state and local retirement plan investments in 2022, up from 11% in the previous year. 

Their overall $1.6tn allocation to alternative asset classes – private equity, hedge funds and real estate – accounts for a third of total investment portfolios.
 

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