Alameda-Contra Costa Transit District Retirement System, Oakland, Calif., is considering its first commitment to private equity, said Hugo Wildmann, retirement system manager.
The $765 million pension fund's board is looking at making a commitment to a private equity fund of funds managed by HarbourVest Partners, Mr. Wildmann said. It would be the pension fund's first commitment to a private equity fund, and he said there is no timeline yet on a selection or further information on changes in the pension fund's target allocation.
The pension fund currently has target allocations of 5% each to real estate and private debt; as of June 30, those asset classes' respective actual allocations were 6.5% and 3.6%.
Investment consultant NEPC is assisting.