Oregon Investment Council, Tigard, which runs the $77.7 billion Oregon Public Employees Retirement Fund, hired Meketa Investment Group as its new general investment consultant and Aksia as its diversifying strategies consultant.
Both selections were made following RFPs. The general investment consultant RFP was launched in June and the diversifying strategies consultant search was initiated in July.
The council has a 5% allocation to diversifying strategies as part of its $8.1 billion alternative investments portfolio. The council also extended the contract of Aksia as its $1.7 billion opportunity portfolio consultant.
Separately, the council committed up to $400 million with manager EQT consisting of up to $350 million to EQT Infrastructure V and $50 million commitment to a co-investment sidecar that will invest alongside the fund.
EQT Infrastructure V is a value-add infrastructure fund investing in Europe and North America that also will opportunistically pursue investments in the Asia-Pacific region, according to a memo for the council's Oct. 28 meeting. The fund's fundraising target is €12.5 billion ($14.8 billion), with a €15 billion hard cap. The council has invested with EQT in the past including €150 million to EQT Infrastructure III in 2016 and $290 million to EQT Infrastructure IV in 2018.
The council also committed $350 million to Pathway Private Equity C-III, an existing customized private equity co-investment program managed by Pathway Capital Management.
The council committed $250 million each to Centerbridge Capital Partners IV, a private equity fund managed by Centerbridge Partners, and GTCR Fund XIII, a buyout fund.
It also committed $200 million to Clearlake Flagship Plus Partners that would invest alongside private equity firm Clearlake Capital Group's private equity and credit opportunities strategies, as well as investments on its own in other tactical or special situations investment opportunities.
The council also committed a total of $150 million to three global venture capital funds managed by GGV Capital: GGV Capital VII, GGV Capital VII Plus and GGV Discovery III. Lastly, it committed $150 million to real estate fund Waterton Residential Property Venture XIV managed by Waterton.
