Oregon Investment Council, Tigard, hired Callan Associates as the new consultant for the Oregon Savings Growth Plan, a $2 billion 457(b) plan, and committed $450 million on behalf on the pension fund, said James Sinks, spokesman in an email.
Incumbent SageView Advisory Group was the other finalist. The selection was made following an RFP launched in April. SageView's contract is set to expire on Aug. 27.
The council runs the deferred compensation plan as well as the $73 billion Oregon Public Employees Retirement Fund.
Separately, the council committed $450 million to two private equity funds. It committed $250 million to European middle-market buyout fund CVC Capital Partners VII. The fund focuses on the beverage, chemicals, consumer services, manufacturing, distribution, media, retail and technology sectors. The recently disclosed commitment was made in May; CVC closed its latest fund in June with total capital commitments of €15.5 billion ($18.3 billion). Oregon has invested in prior CVC funds, including $196.5 million to CVC Capital Partners VI, $50 million to CVC European Equity Partners, $150 million to CVC European Equity Partners II, $150 million to CVC European Equity Partners III, $100 million to CVC Capital Partners Asia Pacific II and $145.5 million to CVC European Equity Partners IV.
The council also committed $200 million to middle-market private equity fund Tailwind Capital Partners III. The council previously committed $75 million each to Tailwind Capital Partners and Tailwind Capital Partners II.