San Luis Obispo County sets $20 million for private equity fund of funds

San Luis Obispo County (Calif.) Pension Trust committed $20 million to HarbourVest 2018 Global Fund, a private equity fund of funds managed by HarbourVest Partners, said Carl Nelson, executive secretary and chief investment officer, in an email.

The $1.3 billion pension fund conducted a shortlist search to bring the private equity allocation closer to its 5% target. The current allocation is 1.3%.

The pension fund committed $20 million to HarbourVest Partners IX Buyout Fund in 2011.

Investment consultant Verus Advisory assisted.