Oregon Public Employees’ Retirement Fund, Salem, may increase its venture capital allocation to as much as $350 million from its current $140 million. Randolph Edwards, state treasurer, will recommend the $33 billion system make the increase when the Oregon Investment Council meets May 28. Searches for top-tier venture-cap managers may result, Mr. Edwards said.
"We’re underweighted in venture cap even though we’re at the top of our private equity allocation,” which is 13% of total assets, he said. "But the bias has been toward buyouts, and this is probably a good time to look at increasing venture cap,” he said. Funding would come from cash.