Ventura County (Calif.) Employees' Retirement Association committed $50 million to Abbott Secondary Opportunities III.
The $7.3 billion pension fund's board approved the commitment to the secondary private equity fund managed by Abbott Capital Management at its meeting Monday, said Dan Gallagher, chief investment officer, in an email.
VCERA previously committed a total of $40 million to Abbott Secondary Opportunities II, originally committing $25 million to the fund in 2020 and making a follow-on commitment of $15 million in 2021.
As of March 31, the actual allocation to private equity was 18.2%; the target is 18%.
Investment consultant NEPC assisted.