San Diego County Employees Retirement Association committed $30 million to Perella Weinberg Partners Asset-Based Value Opportunity Fund II, a hedge fund, said Johanna Shick, communications manager for the $6.3 billion association.
Separately, the association will hire a consulting firm to assist the system with outsourcing the CIO position. Staff is currently negotiating a contract, but she declined to reveal the identity of the firm selected.
David Deutsch, the association’s former CIO, resigned in March. Lisa Needle, assistant CIO, has been acting CIO.
The system earlier had terminated its search for a CIO and opted to outsource those duties.