Ventura County (Calif.) Employees' Retirement Association approved or disclosed new alternative fund commitments totaling $160 million.
The $7.1 billion pension fund's board approved commitments of $35 million to Alterra IOS Venture III, a non-core real estate fund managed by Alterra Property Group; and $25 million to Monroe Capital Opportunistic Private Credit Fund II at its April 17 meeting, said Dan Gallagher, chief investment officer, in an email.
VCERA previously committed $35 million to Alterra IOS Venture II in 2022 and $30 million to Monroe Capital Private Credit Fund IV in 2021.
Investment consultant NEPC assisted.
Also, the board at the April 17 meeting was informed of commitments completed by discretionary private equity manager Abbott Capital Management in the first quarter for its fund-of-funds portfolio.
Abbott Capital committed $20 million each to BlackFin Financial Services Fund IV, a pan-European small-cap private equity fund managed by BlackFin Capital Partners; Charlesbank Technology Opportunities Fund II, a technology-focused buyout fund managed by Charlesbank Capital Partners; buyout funds GTCR Fund XIV and Hellman & Friedman Capital Partners XI; and Parthenon Investors VII, a growth equity fund managed by Parthenon Capital.
As of Dec. 31, the pension fund's actual allocations to private equity, real estate and private credit were 18.4%, 7.6% and 5.2%, respectively; their respective targets are 18%, 8% and 8%.
