District of Columbia Retirement Board approved two new commitments to buyout funds totaling up to $99 million.
The $8.5 billion pension fund's board approved commitments of up to C$65 million ($49 million) to Birch Hill Equity Partners VI, a Canadian buyout fund, and up to $50 million to middle-market buyout fund Odyssey Investment Partners Fund VI at its Nov. 21 meeting, recently released minutes show.
As of Sept. 30, the actual allocation to private equity was 5%; the target is 9%.
Investment consultant Meketa Investment Group assisted.
Sheila Morgan-Johnson, executive director, could not be immediately reached to provide further information.