Colorado Fire & Police Pension Association, Denver, committed $20 million to Banner Ridge Secondary Fund V and $5 million to Banner Ridge Secondary Fund V Co.
The $6.3 billion pension fund's investment staff completed the commitments to the secondary private equity fund and its associated co-investment fund managed by Banner Ridge Partners in January, confirmed J. Scott Simon, chief investment officer, in an email.
Banner Ridge is an existing manager for the pension fund, which committed $30 million to Banner Ridge DSCO Fund II in 2022 and $20 million to Banner Ridge Secondary Fund IV in 2021.
As of Jan. 31, the pension fund's actual allocation to private markets was 30.9%; the target is 31%.
