Orange County could commit $120m to private equity this year


dollar4_sqThe Orange County Employees Retirement System (OCERS) is set to vote on a pacing plan that would see it commit $120m to private equity funds this year.

If the plan is approved at the meeting of the pension system’s investment committee on January 29, it will invest $150m in private equity in each 2015 and 2016, according to the meeting’s agenda.

In addition, the pension system will vote on commitments of $75m to Oaktree Real Estate Debt Fund and $50m to True North Real Estate Fund II.

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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