Private Equity
The fund was oversubscribed and surpassed its fundraising target.
The overall slowdown in private markets commitments did not stop two Black-owned firms from closing funds as early-stage venture capital firms Collab Capital and Zeal Capital Partners recently announced closes for their respective second funds.
The pension plan recently hired three private debt managers as part of an ongoing search.
The plan also funded a new internally managed enhanced index fund.
The plan was informed of staff-delegated alternatives commitments totaling $1.5 billion at its board meeting last week.
The firm will manage an initial $150 million allocation for the fund.
The retirement system approved private equity commitments across two managers at today’s board meeting.
The retirement system’s director of public equity was also honored before his retirement later this month.
A trust fund based in a Western state has approved the addition of a private equity fund-of-one, a real estate strategy and a custom, multi-asset alternative mandate to its portfolio.