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Emerging-manager programs

34 LPs say on their own pages that they take submissions from fund managers or run a program for emerging managers; 19 of them take submissions. Fund sizes, tickets, and the funds they consider are as each one states them. Many public plans run their program through a fund of funds or a consultant, the firm named under the program, and that firm is often the one to approach: see LP consultants.

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LPs with emerging-manager programs or that take submissions, those taking submissions first
LPProgramConsidersSubmissions
CalPERSPublic pension planEmerging & Diverse Manager ProgramRun by GCM Grosvenor (GCM Elevate); TPG Nextfunds of up to $2B; First, second, or third institutional fundTakes submissionsChecked October 19, 2026
International Finance Corporation (IFC)Development finance institution—Not statedTakes submissionsChecked October 19, 2026
Colorado Public Employees' Retirement Association (Colorado PERA)Public pension plan—Not statedTakes submissionsChecked October 19, 2026
Illinois Growth and Innovation Fund (Illinois State Treasurer)Government fund of fundsCatalyst capital (first-time funds and fund managers)Run by 50 South Capitalfunds of $5M or more; $2.5M–$15M per fund; First-time funds and fund managers (about 10% a year)Takes submissionsChecked October 19, 2026
Teachers' Retirement System of the State of Illinois (TRS)Public pension planTRS Emerging Manager ProgramNot statedTakes submissionsChecked October 19, 2026
Korea Venture Investment Corp. (Foreign VC Investment Fund)Government fund of funds · South KoreaForeign VC Investment FundNot statedTakes submissionsChecked October 19, 2026
Fire and Police Pension Association of Colorado (FPPA)Public pension plan—Not statedTakes submissionsChecked October 19, 2026
Oregon Growth Account (Oregon Growth Board)Government fund of fundsOregon Growth FundNot statedTakes submissionsChecked October 19, 2026
Maine Public Employees Retirement System (MainePERS)Public pension plan—Not statedTakes submissionsChecked October 19, 2026
KfW CapitalGovernment fund of funds · GermanyEmerging Manager FazilitätNot statedTakes submissionsChecked October 19, 2026
Alameda County Employees' Retirement Association (ACERA)Public pension planEmerging Investment Manager ProgramFirst-, second-, or third-time institutional funds raised by a firm with less than $5 billion in committed capitalTakes submissionsChecked October 19, 2026
New Jersey Division of InvestmentPublic pension planEmerging Managers ProgramRun by Barings (private equity); GCM Grosvenor (real estate and private credit)Not statedTakes submissionsChecked October 19, 2026
Norfund (Norwegian Investment Fund for Developing Countries)Development finance institution · Norway—Not statedTakes submissionsChecked October 19, 2026
District of Columbia Retirement Board (DCRB)Public pension plan—Not statedTakes submissionsChecked October 19, 2026
European Investment Fund (EIF)Development finance institution · Luxembourg—Not statedTakes submissionsChecked October 19, 2026
New York Ventures (Empire State Development)Government fund of fundsEmerging and Regional Partner Program Fundfunds of $8M or more; Funds I, II and III (emerging managers); regional managersTakes submissionsChecked October 19, 2026
US International Development Finance Corporation (DFC)Development finance institution—Not statedTakes submissionsChecked October 19, 2026
Connecticut Retirement Plans and Trust Funds (CRPTF)Public pension planConnecticut Inclusive Investment Initiative (Ci3)Run by GCM Grosvenor (buyout, growth equity and special situations); Top Tier Capital Partners (venture capital)funds of up to $2B; Emerging managers, including funds beyond the third generation that meet the fund size and firm criteriaTakes submissionsChecked October 19, 2026
State Universities Retirement System of Illinois (SURS)Public pension planDiverse Manager Outreach PortalRun by Fairview Capital Partners (fund-of-one partner); Aksia (discretionary private equity advisor)funds of up to $750MTakes submissionsChecked October 19, 2026
Alaska Permanent Fund Corporation (APFC)Sovereign wealth fundAlaska In-State Investment ProgramRun by Barings; McKinley Capital ManagementNot stated—Checked October 19, 2026
State of Michigan Retirement System (SMRS)Public pension planMichigan Small Emerging Manager ProgramRun by Barings and GCM GrosvenorNot stated—Checked October 19, 2026
New Mexico State Investment CouncilState investment fundNew Mexico Private Equity Investment Program (NMPEIP)Run by Mercer (advisor)Not stated—Checked October 19, 2026
Los Angeles City Employees' Retirement System (LACERS)Public pension planEmerging Investment Manager Programfunds of $75M–$1.2B; up to $30M per fund; First-, second-, and third-time institutional funds (maximum fund size $750 million, $1 billion, and $1.25 billion respectively)—Checked October 19, 2026
LACERAPublic pension planPrivate Equity Emerging Manager ProgramFirst, second, or third institutional fund—Checked October 19, 2026
CalSTRSPublic pension planPrivate Equity Emerging Manager ProgramRun by Sapphire Partners (CalSTRS New and Next Generation Manager Fund); HarbourVest Partners (Lower Middle Market program); Muller & Monroe Asset ManagementFirst, second, or third institutional fund—Checked October 19, 2026
New York State Common Retirement FundPublic pension planEmerging Manager Program (Private Equity)Run by HarbourVest Partners; Muller & Monroe Asset Management; Farol Asset Management (co-investment program)funds of up to $2B—Checked October 19, 2026
NYC Police Pension FundPublic pension planPrivate Equity Emerging Managers Program (New York City Retirement Systems)funds of up to $1B; Primarily Funds I–III—Checked October 19, 2026
NYC Employees' Retirement System (NYCERS)Public pension planPrivate Equity Emerging Managers Program (New York City Retirement Systems)funds of up to $1B; Primarily Funds I–III—Checked October 19, 2026
NYC Fire Pension FundPublic pension planPrivate Equity Emerging Managers Program (New York City Retirement Systems)funds of up to $1B; Primarily Funds I–III—Checked October 19, 2026
NYC Teachers' Retirement SystemPublic pension planPrivate Equity Emerging Managers Program (New York City Retirement Systems)funds of up to $1B; Primarily Funds I–III—Checked October 19, 2026
Enterprise Ireland (Seed and Venture Capital Scheme)Government fund of funds · IrelandSeed & Venture Capital Scheme (2025-29)Not statedHow to approach itChecked October 19, 2026
NYC Board of Education Retirement System (BERS)Public pension planPrivate Equity Emerging Managers Program (New York City Retirement Systems)funds of up to $1B; Primarily Funds I–III—Checked October 19, 2026
Chicago Teachers' Pension Fund (CTPF)Public pension planEmerging Manager Program (private equity)Not stated—Checked October 19, 2026
Employees' Retirement System of Rhode Island (ERSRI)Public pension planEmerging Manager Initiative (proposed)funds of up to $1B; up to $15M per fund; Fund I, Fund II, or Fund III—Checked October 19, 2026

About the data

Read from each LP’s own website, with the date it was read; each LP’s page links the pages it came from. Programs open, close, and change their limits, so the LP’s site is the record. An LP that takes no unsolicited submissions is listed when it runs a program. Organizations only: no individuals are listed.