Holyoke (Mass.) Contributory Retirement System, as part of a rebalancing process that included RFPs, committed an additional $20 million apiece to two alternatives funds, said Cheryl A. Dugre, executive director of the $305 million defined benefit system.
At its Wednesday meeting, the board made the follow-on commitments to Ironsides Direct Investment Fund VI, private equity fund of funds managed by Constitution Capital Partners; and TerraCap Partners V, a real estate fund managed by TerraCap Management.
The system already had $45.9 million in the Constitution Capital fund and $7.3 million in the TerraCap vehicle.
The RFPs were issued in January to meet the new asset allocation targets called for by the plan's investment consultant, Segal Marco, which assisted in the searches. Funding came from rebalancing.
EnTrust Global and Aberdeen Standard Investments were the other private equity finalists, while Kayne Anderson and American Realty Advisors were also considered in the real estate fund search.
