Ventura County (Calif.) Employees' Retirement Association committed $25 million to the Abbott Secondary Opportunities Fund, managed by Abbott Capital Management, said Daniel Gallagher, chief investment officer, in an email.
The $25 million commitment brings the pension fund's total private equity commitments this year to $140 million. The pension fund has a private equity target of 10%.
The secondaries fund commitment was recommended by NEPC, the pension fund's general consultant. Abbott is the $5.3 billion pension fund's private equity consultant and discretionary separate account manager.