Colorado Fire & Police Pension Association, Greenwood Village, made $45 million total in alternatives commitments, said Scott Simon, chief investment officer, in an e-mail.
The $4.2 billion pension fund committed $20 million to Raven Capital Management’s Raven Asset-Based Opportunity Fund III, which focuses on “opportunistic investments in asset-based, first lien, senior secured loans and equity purchases of cash-flowing assets,” Mr. Simon wrote.
The pension fund previously committed $15 million to Raven Asset-Based Opportunity Fund I.
Additionally, the pension fund committed $15 million to SVB Capital’s Venture Overage Fund, a venture capital fund that focuses on investments “beyond the capacity of SVB’s direct and fund-of-funds,” Mr. Simon wrote. The pension previously committed to SVB Capital’s venture fund of funds.
Third, the pension fund committed an additional $10 million to O’Brien-Staley Partners’ OSP Value Fund, which targets investments in “small balance and otherwise overlooked commercial and industrial private credits,” Mr. Simon wrote. The pension fund initially committed $20 million to the fund at the end of 2014.
The Raven Capital Management and O’Brien-Staley Partners allocations will fall under the pension fund’s private debt portfolio. The SVB Capital allocation will fall under private equity.
The pension association has a 20% target allocation to illiquid alternatives, which includes private equity and private debt.