Seattle City Employees' Retirement System approved two new commitments totaling up to $50 million.
The $3.7 billion pension fund's board approved commitments of up to $30 million to Horsley Bridge Venture 15, a venture capital fund of funds managed by Horsley Bridge Partners, and up to $20 million to infrastructure fund Stonepeak Infrastructure Fund V at its Feb. 8 meeting, said Jason Malinowski, chief investment officer.
The pension fund previously committed up to $30 million to Horsley Bridge Venture 14 in 2022 and up to $20 million to Stonepeak Infrastructure Fund IV in 2020.
As of Sept. 30, the actual allocations to private equity and infrastructure were 14.1% and 2.8%, respectively; the respective targets are 11% and 4%.
