District of Columbia Retirement Board, Washington, today approved a new asset allocation that doubles its exposure to private equity and adds real estate as a new asset class, confirmed Sheila Morgan-Johnson, CIO. The $1.9 billion system will have 10% of total assets in private equity, up from 5%, and 5% in real estate. The system will also have a 40% target allocation to domestic equities, from 43.7%, and 25% to fixed income, from 30.3%. It will maintain a 20% allocation to international stocks. A 1% cash allocation was dropped.
Watson Wyatt Worldwide assisted.