Aurora (Colo.) General Employees' Retirement Plan hired Pantheon to manage a $15 million private equity fund-of-funds portfolio, said Steve Shanks, pension plan administrator.
The $623 million pension fund conducted a shortlist search after a recommendation by investment consultant Callan in October 2020 to hire a fund-of-funds manager with a more modular approach to provide for some customization that will allow the pension fund's board discretionary approval of the direct funds the manager recommends, according to July 15 board meeting minutes.
Callan had previously recommended a private equity pacing plan totaling $15 million in commitments.
Other finalists were Pathway Capital Management and Portfolio Advisors.
As of Dec. 31, the actual allocation to private equity was 14%; the target is 10%.
Callan assisted with the search.