Contra Costa County Employees' Retirement Association, Concord, Calif., hired Pathway Ventures to invest $30 million for the pension fund in 30 or 40 private equity funds during the next year or two.
Pathway will invest in a range of funds for Contra Costa, from venture capital investments to mezzanine financing. Pathway has discretion for fund selection. Contra Costa currently has 1% of its $2.5 billion fund assets invested in private equity and a 5% of assets goal for the asset class.
In an existing relationship with the pension fund, Brinson Partners is making similar private equity investments for Contra Costa.
Dorn Helliesen & Cottle assisted in the selection of Pathway