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Oregon continues private equity push with $950m of fund investments

22 Aug 2014

money dollar coins cash capitalThe $70bn-managing Oregon Investment Council has reportedly made another $950m of commitments to a string of private equity and alternative assets funds.

Blackstone Energy Partners is the biggest beneficiary according to P&I, which said the LP had agreed to back the fund with up to $200m.

It cited council spokesman Michael Cox, who also said the investor had commited $150m to Veritas Capital Fund V.

Aquiline Financial Services Fund III, Orchid Asia VI and Hellman & Friedman Capital Partners VIII could all pick up $100m, while the LP said it would invest up to $50m in Sofinnova Venture Partners Fund IX.

P&I added that NGP Natural Resources Fund XI could receive $200m and Galton Mortgage Recovery Fund III $50m.

Oregon revealed in January it planned to allocate as much as $2.2bn to private equity this year.

The LP’s annual commitment rate has been at around $2bn in recent years according to peHub. Last year the firm formally lifted its formally allocation target to private equity to 20 per cent of its total portfolio, though in practice it was already operating at close to 22 per cent.

The new strategy was aimed at reducing the percentage of the portfolio that will be steered to public stock and fixed income investments such as bonds, and will increase exposure to asset classes such as real estate, hedged strategies, commodities and infrastructure.

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