Tulare County Employees' Retirement Association, Visalia, Calif., is looking to commit $20 million to a private equity fund, said David J. Kehler, retirement administrator for the $1.3 billion plan, in an email.
Its investment consultant, Verus, will conduct the shortlist search on behalf of the plan.
The type of fund in which the pension plan will invest is yet to be fully determined, but Mr. Kehler said it "will likely be a primary, multistrategy fund of funds."
TCERA's current private equity managers are Pantheon Ventures, BlackRock, StepStone Group, Pathway Capital Management, and Ocean Avenue Capital Partners.
The pension plan had an allocation of 3.6% to private equity as of Sept. 30.
Separately, TCERA's investment committee will recommend to the board that it monitor Ivy Investments due to the recent departure of its large-cap growth portfolio manager, Daniel Becker. TCERA currently has about $59 million allocated to Ivy's domestic large-cap growth equity strategy.
