Orange County Employees Retirement System, Santa Ana, Calif., board opted to discontinue further investments in the Trust Co. of the West Debt and Royalty Funds VI, if that action is allowed under the terms of the limited partnership agreement. The $4.4 billion system has about $2.5 million invested in the fund, said Farouki Majeed, investment officer. ‘‘We think we have too much exposure in oil and gas, and oil and gas is not all that great right now,’’ he said.
The board also decided to defer any further commitment this year to the Brinson Fund, managed by Brinson Partners, which runs about $50 million for the system in a separately managed private equity and venture capital program. The decision is the result of an annual review of private equity commitments.
