Ventura County (Calif.) Employees' Retirement Association approved three new commitments totaling $85 million.
The $7.5 billion pension fund committed $35 million to Adams Street Co-Investment Fund V, a private equity co-investment fund managed by Adams Street Partners, and $25 million each to Bain Capital Special Situations Asia II, an Asian-focused private credit fund; and Bridge Debt Strategies Fund IV, a real estate debt fund managed by Bridge Investment Group, said Dan Gallagher, chief investment officer, in an email.
VCERA previously committed a total of $250 million to seven prior Adams Street funds, and previously committed $25 million to Bridge Debt Strategies Fund III in 2019. Bain Capital is a new manager for the pension fund.
As of June 30, the actual allocations to private equity and private debt were 12.2% and 2.4%, respectively.
Investment consultant NEPC assisted.
