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Marin County allocates $15 million for latest Abbott Capital private equity fund of funds

Marin County Employees’ Retirement Association, San Rafael, Calif., committed $15 million to Abbott Capital Management’s Annual Program 2017, a private equity fund of funds, said Jeff Wickman, retirement administrator, in an e-mail.

Since 2008, the pension fund has committed $185 million to other Abbott Capital Management funds.

Separately, the pension fund’s investment committee voted to transfer its roughly $39 million investment in Parametric Portfolio Associates’ Tax-Managed Emerging Markets mutual fund to Parametric’s emerging markets equity collective investment trust, “considering new lower fees being offered in the CIT and the elimination of redemption fees in the (mutual fund),” Mr. Wickman wrote. The pension fund already had $57 million invested in the CIT.

As of June 30, the $2.1 billion pension fund had an 8% private equity target and 22% international equity target.