DFX Intelligence
Allocator Intelligence
The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.
Allocators
Explore the capital owners
One row per allocator with the latest reported assets, funded status where the plan files one, the private markets target where a policy is read, and how much of its book is on the commitment tape. Components of a larger system (a division, a plan an investment office invests for) are folded into the parent.
13,862 allocators
| Allocator | Type | State | Assets | As of | Private markets target | Funded | Commitments | Managers | Consultants |
|---|---|---|---|---|---|---|---|---|---|
| California Public Employees' Retirement System | state | CA | $553Bderived | Jun 30, 2024 | 33.5% | n/a | 466 | 260 | 0 |
| Metlife Inc | insurer | NY | $472B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Prudential Financial Inc | insurer | NJ | $471B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| California State Teachers' Retirement System | state | CA | $373B | Jun 30, 2025 | 35.0% | n/a | 477 | 228 | 1 |
| New York State Common Retirement Fund | pool | NY | $268Bderived | Jun 30, 2024 | 35.0% | n/a | 1,059 | 494 | 0 |
| Corebridge Financial, Inc. | insurer | TX | $265B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Teacher Retirement System of TX | state | TX | $228Bderived | Jun 30, 2024 | n/a | n/a | 0 | 0 | 0 |
| FRS Defined Benefit Pension Plan | state | FL | $200B | Jun 30, 2024 | n/a | n/a | 0 | 0 | 0 |
| Chubb Ltd | insurer | $169B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 | |
| Wisconsin Retirement System | state | WI | $163Bderived | Jun 30, 2024 | 47.0% | n/a | 90 | 23 | 0 |
| OPERS Traditional DB Pension Plan | state | OH | $158B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 1 |
| Nys Teachers' Retirement System | state | NY | $154B | Jun 30, 2025 | 28.0% | n/a | 24 | 5 | 1 |
| Washington State Investment Board | pool | WA | $144Bderived | Jun 30, 2023 | 51.0% | n/a | 490 | 197 | 0 |
| Lincoln National Corp | insurer | PA | $139B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Reinsurance Group of America Inc | insurer | MO | $130B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Brighthouse Financial, Inc. | insurer | NC | $121B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Virginia Retirement System (VRS) | state | VA | $114B | Jun 30, 2025 | 47.0% | n/a | 23 | 12 | 1 |
| North Carolina Retirement Systems | state | NC | $112Bderived | Jun 30, 2023 | 22.0% | n/a | 0 | 0 | 0 |
| Principal Financial Group Inc | insurer | IA | $111B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Teachers Retirement System of New York City | public | NY | $108B | Jun 30, 2024 | 16.4% | n/a | 0 | 0 | 0 |
| Lilly Endowment Inc | foundation | IN | $106B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Teachers Retirement System of Ga | state | GA | $106Bderived | Jun 30, 2024 | n/a | n/a | 0 | 0 | 0 |
| Aflac Inc | insurer | GA | $104B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Travelers Companies, Inc. | insurer | MN | $101B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| University of California Retirement Plan (UCRP) | state | CA | $99Bderived | Jun 30, 2024 | 26.5% | n/a | 0 | 0 | 0 |
| Oregon Public Employees Retirement Fund | pool | OR | $98Bderived | Jun 30, 2023 | 65.0% | n/a | 480 | 228 | 0 |
| Progressive Corp/oh/ | insurer | OH | $97B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| American International Group, Inc. | insurer | NY | $93B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Minnesota State Board of Investment | pool | MN | $92Bderived | Jun 30, 2024 | n/a | n/a | 231 | 120 | 2 |
| New Jersey Division of Investment | pool | NJ | $92Bderived | Jun 30, 2023 | 39.0% | n/a | 165 | 109 | 0 |
| American National Group Inc. | insurer | IA | $91B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Ohio STRS Traditional DB Pension Plan | state | OH | $89B | Jun 30, 2024 | 27.0% | n/a | 0 | 0 | 2 |
| N Y C Employees Retirement System | public | NY | $87B | Jun 30, 2024 | n/a | n/a | 0 | 0 | 0 |
| Fidelity Investments Charitable Gift Fund | other | MA | $86B | Jun 30, 2025 | n/a | n/a | 0 | 0 | 0 |
| Los Angeles County Employees Retirement Association | public | CA | $86B | Jun 30, 2025 | n/a | n/a | 13 | 6 | 6 |
| Pennsylvania Public School Employees' Retirement System | state | PA | $84B | Jun 30, 2025 | n/a | n/a | 145 | 122 | 2 |
| Allstate Corp | insurer | IL | $83B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Gates Foundation | foundation | WA | $79B | Dec 31, 2024 | n/a | n/a | 0 | 0 | 0 |
| Gates Foundation Trust | foundation | WA | $78B | Dec 31, 2024 | n/a | n/a | 118 | 22 | 0 |
| Teachers' Retirement System of the State of Illinois | state | IL | $77B | Jun 30, 2025 | 41.0% | n/a | 92 | 108 | 3 |
| Fidelity National Financial, Inc. | insurer | FL | $73B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Michigan Public School Employee Retirement System (PSERS) | state | MI | $72Bderived | Jun 30, 2024 | n/a | n/a | 0 | 0 | 0 |
| Jackson Financial Inc. | insurer | MI | $69B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| The Board of Trustees of the Leland Stanford Junior University | endowment | CA | $69B | Aug 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Maryland State Retirement and Pension System | state | MD | $69Bderived | Jun 30, 2023 | 40.0% | n/a | 0 | 0 | 4 |
| Hartford Insurance Group, Inc. | insurer | CT | $64B | Dec 31, 2025 | n/a | n/a | 0 | 0 | 0 |
| Nevada Public Employees Retirement System (PERS) | state | NV | $64Bderived | Jun 30, 2024 | 24.0% | n/a | 0 | 0 | 2 |
| Connecticut Retirement Plans and Trust Funds | pool | CT | $63B | Jun 30, 2025 | n/a | n/a | 34 | 8 | 0 |
| Illinois Municipal Retirement Fund (IMRF) | state | IL | $63B | Dec 31, 2025 | 24.5% | n/a | 0 | 0 | 1 |
| New York Police Pension Fund Article 2 | public | NY | $59B | Jun 30, 2024 | 19.1% | n/a | 0 | 0 | 0 |
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