Sacramento County (Calif.) Employees' Retirement System disclosed a commitment of $30 million to Cortec Group Fund VIII.
The $11.9 billion pension fund's investment staff completed the commitment to the buyout fund in February, according to a transaction report included with materials for the pension fund's upcoming March 15 board meeting.
As of Dec. 31, the actual allocation to private equity was 10.4%; the target is 11%.
Separately, investment staff and investment consultant Verus Advisory are recommending the board at its March 15 meeting approve the hiring of Acadian Investment Management to run about $100 million in active international small-cap equities.
Funding would come from the termination last September of Mondrian Investment Partners from a similar portfolio. The assets are currently parked with State Street Global Advisors. Steve Davis, chief investment officer, said in an email the firm was terminated due to underperformance. James F. Brecker III, head of global client services and business development at Mondrian, could not be immediately reached for comment.
As of Dec. 31, the actual allocation to global public equities was 40.6%; the target is 40%.