Sacramento County (Calif.) Employees’ Retirement System is targeting $285 million in total commitments to nine private equity funds this year, recently released board meeting minutes show.
The $7.7 billion pension fund approved the private equity annual investment plan, recommended by alternatives consultant Cliffwater, at its March 18 meeting.
The $285 million target was generated from a proposed commitment range of $235 million to $335 million for seven to 11 private equity funds, according to the meeting minutes.
For the remainder of 2015, Cliffwater recommended the area of focus be sector-specific funds as well as potential “re-ups” with existing private equity managers. Additional information could not be learned.
The pension fund has a 10% allocation to private equity.
Richard Stensrud, CEO, could not be reached for additional information by press time.