Orange County Employees Retirement System, Santa Ana, Calif., committed $200 million total to four energy-related investments and $50 million to a direct lending fund, said Girard Miller, chief investment officer, in an e-mail.
The $12.6 billion pension fund committed $35 million to EnerVest Energy Institutional Fund XIV; $65 million to Kayne Anderson Energy Fund VII, managed by Kayne Anderson Capital Advisors; $50 million to Ridgewood Energy Oil & Gas Fund III; and $50 million to a BlackRock-managed private equity partners custom account for oil-focused private equity co-investments. OCERS officials might increase the commitment to the BlackRock custom account “if timely opportunities arise,” according to a staff memo for the March 25 investment committee meeting.
EnerVest and Kayne Anderson are incumbent managers. The Ridgewood and BlackRock commitments are provisional approvals subject to onsite due diligence and further negotiation of deal terms.
OCERS also committed $50 million to Monroe Capital’s U.S. direct lending fund Monroe Capital Private Credit Fund II. Monroe Capital is an incumbent manager.
