Fresno County (Calif.) Employees’ Retirement Association is exploring ways to bring its nearly 3% private equity allocation closer to its 6% target, a recording of this week’s board meeting states.
Verus, the $3.9 billion pension fund’s investment consultant, recommended making a total of $60 million in private equity commitments annually over the next six years, starting this year.
Accordingly, the pension fund board voted to invite Warburg Pincus and Hamilton Lane to present at the Oct. 7 board meeting. The pension fund has committed more than $100 million to other Warburg Pincus and Hamilton Lane funds.
The new funds under consideration are Warburg Pincus Private Equity XII, a direct private equity fund, and Hamilton Lane Fund IX, a private equity fund of funds. Commitment sizes have not been determined.
