District of Columbia Retirement Board disclosed two commitments to buyout funds totaling $125 million.
The board disclosed commitments of $75 million to One Rock Capital Partners IV and $50 million to Ara Fund III, managed by Ara Partners, in May 18 board meeting minutes posted on its website.
The commitments were completed March 28 and April 21, respectively.
DCRB previously committed $75 million to One Rock Capital Partners III in 2020. Ara Partners is a new manager for the board, spokeswoman Lauren Smith said in an email.
As of March 31, the actual allocation to private equity was 10.7%; the target is 9%.
The board oversees the investment management of the District of Columbia Police Officers and Firefighters' Retirement Plan, and the District of Columbia Teachers' Retirement Plan, which have a combined $10.5 billion in assets.