Searches and Hires

Ventura County commits $45 million to 3 alternative funds

Ventura County (Calif.) Employees' Retirement Association committed $45 million to three alternative investment funds, said Dan Gallagher, chief investment officer.

At its Wednesday meeting, the board of the $5.7 billion pension fund agreed to commit $30 million to PIMCO Private Income Investment Fund, an evergreen private credit fund managed by Pacific Investment Management Co.

The board also agreed to commit $7.5 million apiece to two venture capital funds managed by Drive Capital: Drive Capital Fund III and OverDrive Fund I.

Investment consultant NEPC assisted with the actions.