Denver Employees Retirement Plan committed $25 million to EIG Energy Fund XVI, a private equity energy fund managed by EIG Global Energy Partners, confirmed Steven Hutt, executive director.
The $2 billion pension fund increased its private energy allocation to 4% from 2% in March. It has invested in three prior EIG funds. Mr. Hutt said additional commitments will be made to get up to the full 4%.
Separately, the pension fund terminated a $25 million active small-cap growth equity strategy managed by NorthPoint Capital Partners. As part of the new asset allocation, small-cap equity was reduced to 3.75% from 5%. Mr. Hutt said the pension fund had two growth managers and one value and decided it made more sense to terminate a manager than reduce the size of all three portfolios.