Tulare County Employees' Retirement Association, Visalia, Calif., proposed investing a total of $40 million with two private equity funds, said David J. Kehler, retirement administrator, in an email.
At its Monday meeting, the investment committee approved motions to recommend the board commit $20 million to Ocean Avenue Fund IV, a private equity fund of funds managed by Ocean Avenue Capital Partners, and to expand its investment with TPG by committing $20 million to the TSSP Capital Solutions Fund.
TCERA had $80 million committed to TPG Special Situations Partners Private Credit as of June 30, 2017.
The full board is to consider these recommendations at its Oct. 24 meeting.
