District of Columbia Retirement Board, Washington, agreed to commit a total of up to $69.6 million to private equity and real estate funds, according to its website.
The $7.8 billion pension fund voted to commit $39.6 million to Epiris II, a private equity fund that targets control positions in U.K.-centric businesses with an enterprise value of between £75 million and £500 million, according to Epiris' website.
In real estate, the board voted to commit up to $30 million to a Centerbridge Real Estate Fund, managed by Centerbridge Partners. The commitment is subject to contract negotiations.
Both commitments were approved at the board's Sept. 19 meeting, but further details were not available.
As of March 31, the pension fund's allocation to real estate was 4% and private equity, also 4%. The real estate target is 6% and private equity, 9% .
Separately, the pension fund returned 11.9% for the fiscal year ended Aug. 31.
