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Original research, news analysis, and SEC filing briefs on family offices, institutional LPs, and private-markets activity. Every piece sourced, dated, and built to be cited.
US Public Pension Commitments in Q1 2026
Across 12 US public pension systems with primary-source Q1 2026 or early-Q2 disclosures, 26 commitments totaled $4.67B. Credit ran at 88% of PE dollars at the three ticket-disclosing systems (NYSCRF, PSERS, CRPTF) and Connecticut's 2026 pacing plan allocates more to credit than PE for the first time. NYC's $4B four-year Housing Investment Initiative is the single largest Q1/early-Q2 commitment on the primary-source record. 95% of emerging-manager capital flowed through three gatekeepers — GCM Grosvenor, RockCreek, Muller and Monroe.
Read morePrivate Fund Formation in Q1 2026: A Record Quarter, and PE Raised 6× VC's Capital
Q1 2026 set a record for private-fund formation at 5,765 Form D filings, up 9% YoY. PE raised $39.4B across 156 funds; VC $6.3B across 165 — same count, six times the capital. Nine of the 15 largest PE raises were private credit or secondaries, not buyout.
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