The $208 million Worcester (Mass.) Retirement System is considering increasing its venture capital investments and managers, said James A. DelSignore, city auditor and trustee. Officials of the system met Friday with executives of four of its five venture capital managers and its consultant, Hannah Group, to evaluate investments. The four are Dillon Read, Boston Capital, New England Growth Partners and Pioneer Capital. The fifth manager, Rice Mezzanine, which wasn't able to attend, is being phased out because its investments are maturing and because it set an investment minimum for new assignments too high for the system.
The fund has $7 million in venture capital. As for adding more managers in the asset class, Mr. DelSignore said: ``We don't want too large a stable of (venture) managers, because it's too hard to keep track of them; you want to be able to meet with each one at least once a year.'' He said the system could make a decision in the next few months on whether to add to venture capital.
