Cincinnati Retirement System approved new private equity and real estate commitments totaling up to $30 million.
The $2.4 billion pension fund’s board approved commitments of between $12 million and $15 million to Siguler Guff Small Buyout Opportunities Fund VI, a lower middle-market buyout fund managed by Siguler Guff & Co.; between $7 million and $10 million to PEG Co-Investment Fund II, a private equity co-investment fund managed by J.P. Morgan Asset Management; and $5 million to Timber Bay Fund III, a timber fund managed by Timber Bay Partners, at its Nov. 7 meeting, recently released meeting minutes showed.
The pension fund previously committed $25 million to Siguler Guff Small Buyout Opportunities Fund V in 2022 and $40 million to JPMAM’s PEG Global Private Equity X in 2021. Timber Bay is a new manager for the pension fund.
As of Sept. 30, the pension fund’s actual allocations to private equity and real estate were 11.1% and 6.4%, respectively; their respective targets are 8% and 6%.
Investment consultant Marquette Associates assisted.
