DFX Intelligence
Board records
What the boards decided, were recommended, and were askedHow board records are readRead from the boards’ own minutes and meeting packets, each row with the stance the minutes give it. Approved is a vote or a commitment reported as made under delegated authority; recommended is staff or the consultant asking, with no vote in the record; proposed is an item presented for consideration. Every row carries the sentence that says so.A re-up prospect is arithmetic on the tape: the allocator holds Fund N, the manager has Fund N+1 open, and no commitment to it is on the graph; it is labelled an inference and says nothing about intent.Same manager, same series and name stem, the next number (or a later vintage), open now on the venture or private equity graph, and no commitment to it on this graph. Dated at the successor’s first Form D sale when there is one. A row retires by itself when a commitment to the successor lands.
- Dec 10, 2025Committed (dated)Private equity$29.8M to BPEA Private Equity Fund IX (No.2) (EQT Fund Management S.A.R.L) on Stepstone Group LLC’s recommendation
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BPEA Private Equity Fund IX (No.2) April 2025 Buyout Asia $29.8reported as made at the meeting, no closing date printed; closing date from the plan's own dated disclosure of the same fund - Sep 24, 2025ApprovedHedge / diversifiers
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During the quarter, the Board approved a $40 million commitment to BIG Real Estate Fund III, a closed end, CMBS/RMBS strategy and a $50 million commitment to Brookfield Strategic Real Estate Partners V, a closed-end, opportunistic diversified global strategy.opportunistic diversified globalBoard minutes - Sep 24, 2025Approved$40.0M to BIG Real Estate Fund III
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During the quarter, the Board approved a $40 million commitment to BIG Real Estate Fund III, a closed end, CMBS/RMBS strategy and a $50 million commitment to Brookfield Strategic Real Estate Partners V, a closed-end, opportunistic diversified global strategy.CMBS/RMBSBoard minutes - Sep 24, 2025ApprovedVenture$25.0M to Warburg Pincus Financial Sector III (Warburg Pincus LLC) on Stepstone Group LLC’s recommendation
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Warburg Pincus Financial Sector III May 2025 Growth Equity Global $25.0reported as made at the meeting, no closing date printed - Sep 24, 2025ApprovedPrivate equity
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Hg Saturn 4 A July 2025 Buyout Western Europe $22.9reported as made at the meeting, no closing date printed
+9 additional approvals
Every plan, fund, manager and consultant in the board records behind this count, with the minutes cited on each.
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