Tulare County Employees' Retirement Association, Visalia, Calif., is exploring ways to bring its private equity allocation closer to its 5% target, said David Kehler, retirement administrator of the $1.3 billion fund.
Approximately 2.5% or $32.5 million of the pension fund’s total assets are invested in private equity.
The pension fund is considering whether to make new commitments with existing managers BlackRock and Pantheon, or hire a new manager. No firm decision has been made, Mr. Kehler said. Allocation sizes and strategy types have not been determined either. Decisions could be reached by the end of the second quarter at the earliest.
Any searches will be conducted by investment consultant Wurts & Associates. Interested managers can contact Wurts & Associates to make sure they are in the consultant’s manager database.
