San Diego County Employees Retirement Association on Thursday is expected to decide whether to make a new commitment of $50 million to $60 million to Baring Asia Private Equity V; an additional $50 million to Bridgewater Pure Alpha Major Markets Fund, and a follow-on commitment of $25 million to Drug Royalty II Co-Investment Fund, according to the system’s investment board meeting agenda.
The board also will consider whether to shift $50 million of its $300 million in Graham Capital Management’s discretionary hedge fund portfolio to Graham’s K4D investment strategy, a global macro quantitative hedge fund; it would be a new allocation to K4D.
The association currently has $56.8 million invested in Bridgewater’s Pure Alpha Fund., according to the agenda materials.
The $6.85 billion association in February had committed $25 million to Drug Royalty II. The follow-on commitment would invest through RMF2 Feeder Fund, which will become a limited partner in the co-investment fund.