Oregon Investment Council, Tigard, which runs the $66.5 billion Oregon Public Employees Retirement Fund, Salem, at its March 5 meeting voted to initially invest $250 million split into two actively managed international microcap equities portfolios managed by Dimensional Fund Advisors and EAM Investors, said James Sinks, council spokesman.
The portfolios could increase to a total $750 million with Dimensional’s international microcap value portfolio investing up to $500 million and EAM’s international microcap growth portfolio increasing up to $250 million. General investment consultant Callan Associates assisted.
Also at the March 5 meeting, private equity consultant TorreyCove Capital Partners recommended the council commit $2.9 billion a year to private equity for the foreseeable future, up from $2.6 billion in order to maintain its 20% private equity target allocation.
Separately, a state bill that would establish the Oregon Investment Department as a new independent public investment agency that would be supervised by a director appointed by the Investment Council is scheduled for a vote on the House floor on Friday. The current legislative session ends on March 9.