The pace of new private equity and alternative investments at the Florida State Board of Administration is likely to reach about $6 billion in fiscal 2012-2013, as Florida’s primary $126 billion pension fund gradually ramps up its allocations to so-called strategic investments from zero to 11 percent of the portfolio…

The Florida State Board of Administration, which oversees $154 billion in pension and emergency funds, committed $700 million to five private equity, infrastructure and opportunistic debt funds during the third quarter of 2012…

The Florida State Board of Administration made its first set of private equity commitments under Trent Webster, its new senior investment officer for private equity and his deputy, John Bradley.

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It took more than six months to fill the shoes of Jim Treanor, who left last August as head of private equity for the Florida State Board of Administration, which manages $154 billion in state pension and emergency money.

Freeman Spogli & Co. has finally closed its sixth fund with $735 million in commitments, Partner Bill Wardlaw told sister magazine Buyouts.

The fund fell well short of its $1 billion target. But, said Wardlaw, “given the fundraising environment, we were pleased with what we got.”

There must be some relief and exhaustion on the part of Wardlaw and his colleagues too.

The Florida State Board of Administration has agreed to acquire a minority ownership stake in Lexington Partners, peHUB has learned. It is believed to be the first time that a state pension fund outside of California has bought into a private equity firm’s management company.

“Florida has had a multi-pronged relationship with Lexington for a long time, so from that perspective it’s not to surprising,” explained a source familiar with the deal. “But when you consider how poorly most other deals like this have performed, it’s got to make you wonder why Florida would want to double-down on a single firm.”

Neither Lexington nor Florida is commenting on the deal, but our understanding is that the deal is for a 9.9% ownership position at an enterprise value of around $1.8 billion (consider that last figure to be ballpark — a very spacious ballpark).

The Florida State Board of Administration has issued an Intent to Negotiate (ITN) with general partners who would manage private equity and/or debt vehicles focused on Florida companies. PRESS RELEASE TALLAHASSEE, FL – The Florida State Board of Administration (SBA) issued an invitation to negotiate (ITN) today in search of world class investment organizations to [...]