Ventura County (Calif.) Employees' Retirement Association plans to make a total of $250 million in private equity commitments in 2020.
The $5.3 billion pension fund's board on Monday approved the annual plan, said Dan Gallagher, chief investment officer, in an email.
It is a slight increase from the $230 million target in 2019, board meeting materials showed. The pension fund made a total of $227 million in commitments through Abbott Capital Management and in its own initiated commitments.
Abbott Capital Management, which runs a customized fund-of-funds separate account for VCERA, made the recommendation to commit a total of $250 million in 2020.
The pension fund does not issue RFPs for private equity funds. As of March 31, the actual allocation to private equity was 9.7%; the target is 13%.
