District of Columbia Retirement Board, Washington, made four fund commitments totaling $65 million, according to recently released board meeting minutes.
The $5.5 billion public pension fund committed $15 million to CVC European Equity Partners Fund VI, managed by CVC Capital Partners; $20 million to Sentinel Partners V, managed by Sentinel Capital Partners; and $15 million to HIG Europe Capital Partners II, managed by H.I.G Capital, according to minutes of May and July board meetings.
Before the new commitments, the board had $405.3 million in private equity, or about 7.3% of total assets as of June 30.
DCRB also committed $15 million to GEM Realty Fund V, run by GEM Realty Capital. Real estate is part of a 6.5% real assets allocation.
Also at meeting, the board renewed its contract with investment consultant Meketa Investment Group for two years, effective Aug. 1.
DCRB staff terminated BlackRock, which had managed $628.4 million as of June 30 in its core-plus bond strategy. A DCRB official who asked not to be named said the termination was “an asset allocation decision.”
Further details were not available.
