Contra Costa County Employees’ Retirement Association, Concord, Calif., committed $100 million to a Commonfund Capital natural resources customized separate account, said Timothy Price, chief investment officer, in an e-mail.
The $7.2 billion pension fund previously committed $50 million to Commonfund Capital Natural Resources Partners IX in 2013.
Mr. Price, in a memo to the pension fund’s board of trustees, recommended converting the relationship with the manager to a separate account “fund of one” structure, rather than investing in Fund X. Commonfund will invest in oil and natural gas, mining and minerals, energy and power generation, and renewable energy.
Investment consultant Verus assisted.
