Private Equity
The plan is seeking a fund-of-one structure to manage an initial 3% of its long-term 7% target to the asset class.
The senior director of private equity joined the firm last month from a pension fund.
The three private markets commitments totaled $65 million.
The close of the more than $360 million fund brings total firm assets under management to $1.7 billion.
The board recently made private equity commitments totaling $60 million.
The fundraise represents a 35% increase over Fund VIII and brings Veritas’s AUM to more than $54 billion.
The oversubscribed fund is the largest in the firm’s history.
The retirement system launched the searches last quarter due to contract expirations.
The plan will look to commit up to $400 million across two venture capital funds later this month.
The fund exceeded its $1.75 billion target.