Oregon Investment Council, Tigard, made new commitments and investments totaling $923 million for the $74.5 billion Oregon Public Employees Retirement System, Salem, spokesman James Sinks said in an email.
In private equity, the council committed $250 million to Aquiline Financial Services Fund IV, a middle-market financial services buyout fund managed by Aquiline Capital Partners. The council previously committed $100 million to Aquiline Financial Services Fund III in 2014.
Also, the council committed €200 million ($223 million) to European buyout fund Cinven VII. The council previously committed €250 million to Cinven VI in 2016.
The council also committed $150 million to Advent Global Private Equity IX, a buyout fund managed by Advent International. The council has made several previous commitments to Advent funds.
In real estate, the council committed $250 million to Prologis Targeted U.S. Logistics Fund, an open-end core real estate fund. The council previously committed $500 million to Prologis Global Strategic Venture in 2011.
Also, within its alternatives-diversifying strategies asset class, the council approved a direct investment of $50 million in solar energy firm Bolt Energy.
Separately, the council approved reducing the target allocation to global equities to 32.5% from 37.5%, increasing the diversifying strategies target to 7.5% from 5% and creating a new 2.5% target to risk parity. How those new targets will be implemented has yet to be determined. Targets that remain unchanged are 20% fixed income, 17.5% private equity, 12.5% real estate and 7.5% alternatives-illiquid.
