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OCERS picks Pantheon to manage new investment programme

26 Mar 2014

california_sunset_2The Orange County Employees Retirement System (OCERS) has chosen UK firm Pantheon to manage its fund of funds programme.

The pension system is proposing to commit between $50m and $100m annually to Pantheon for 2014, 2015 and 2016 vintage years.

OCERS previously said that it would choose a firm to offer an all-purpose or multi-strategy private equity fund of funds and these proposals may include a single or multiple vintage years.

Historically, OCERS has invested in private equity through several funds of funds managers. Presently OCERS has multi-year commitments working through Abbott Capital, Adams Street, and Mesirow Financial.

The portfolio allocation for private equity, which was set at five per cent of the total portfolio in 2012, was increased to six per cent within the 2013 NEPC directional target report.

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