Oregon Investment Council, Tigard, which runs the $74.9 billion Oregon Public Employees Retirement Fund, committed an initial $250 million to the Aspect Capital Core Diversified Programme, a trend-following managed futures portfolio, said James Sinks, spokesman.
The council also approved a second $250 million commitment to Aspect to be invested at staff's discretion. Aspect is a new relationship for the council.
Separately, the council committed a total of $750 million to alternative investment funds, according to meeting materials.
In private equity, it committed $250 million to a buyout fund Roark Capital Partners V, managed by Roark Capital Group, and $200 million to TPG Growth IV, a growth capital and special situations fund. The pension fund has invested with Roark Capital and TPG in the past, including a $100 million commitment to Roark Capital Partners IV and a $200 million commitment to TPG Growth III.
The council's real estate committee committed $150 million each to ASB Allegiance Real Estate Fund, a core real estate fund managed by ASB Real Estate Investments, and Heitman America Real Estate Trust.
Also, the Oregon Retirement Savings Board on Wednesday approved a report showing that as of Nov. 30, the pilot program for the state's new defined contribution plan covering workers in the state that do not have access to a retirement plan amassed total assets of $309,000. The pilot program started in July with 53 employers. The board also decided to make the plan available to all employers, large and small, on Jan. 1. The program was to have been rolled out to state employers in stages based on the company size.
Most of the money, $228,248, is invested in the capital preservation fund, a money market fund managed by State Street Global Advisors. The plan's default option is the capital preservation fund for the first $1,000, with the remainder invested in target date funds.