Adams County Retirement Plan, Brighton, Colo., approved commitments to NGP Natural Resources XI and Strategic Value Special Situations Fund III, said Pamela Mathisen, executive director of the $225 million pension fund.
The NGP fund focuses on the development of crude oil and natural gas and is managed by NGP Energy Capital Management.
Strategic Value Special Situations Fund III seeks to invest in distressed credit and special situation opportunities, targeting the debt of middle-market companies, said recently released board minutes. That fund is managed by Strategic Value Partners.
Ms. Mathisen could not immediately provide information on the size of the commitments. However, the minutes cite plans to commit an initial $2 million to each fund.
In July the pension fund increased its private equity allocation to 5% from 2.5% following a recommendation from Watershed Investment Consultants.