Sacramento County (Calif.) Employees’ Retirement System committed $75 million to NGP Royalty Partners III.
The $13.9 billion pension fund disclosed the March commitment to the oil and gas fund managed by NGP Energy Capital Management in materials for its upcoming April 16 board meeting.
The pension fund previously committed $50 million to NGP Royalty Partners II in 2022.
As of Dec. 31, the pension fund’s actual allocation to private real assets was 7.4%; the target is 7%.
