Private Equity
The plans adopted the new asset allocation following an asset study by their general investment consultant.
Commitments included over $1.9 billion to OrbiMed Private Investments X and more than $1 billion to OrbiMed Asia Partners VI.
The institution will consider investments with startup companies recently launched from its ecosystem through its accelerator fund at its board meeting this month.
The pension system also discussed a potential private equity pacing plan that calls for $80 million to $90 million per year to reach its 11% target.
The retirement association expects to approve a recommendation next year.
The retirement association will also consider rehiring its general investment consultant this week.
The retirement system finalized a new commitment in the firm’s 11th fund in the series.
The retirement system will receive potential international equity candidates next month.
The firm closed its 11th fund with $2.5 billion in an oversubscribed single close.
The retirement system closed on more than $500 million in commitments last month.
