Venture Capital
The retirement fund made up to $170 million in alternatives commitments last week.
The transaction is expected to close in the second quarter.
The plan finalized private equity and private credit commitments totaling up to $75 million in February.
The retirement fund added $249 million in new commitment at last week’s board meeting.
The retirement system made venture capital commitments totaling $45 million last month.
The retirement fund also hired a new domestic small-cap value equity manager this week.
The commitments were made this year under delegated authority.
The retirement fund is targeting private equity finalist interviews at its February and March board meetings.
Many endowments, foundations and their allocators point to relatively small or medium-size private equity buyout and early-stage venture capital for returns that outpace the public markets, while private real estate, infrastructure, hedge funds and private debt, especially asset-based lending look like strong portfolio diversifiers in this year’s mercurial environment.
