Ventura County (Calif.) Employees' Retirement Association committed $25 million to Pantheon Global Secondary Fund VI.
The $6.1 billion pension fund's board approved the commitment to the secondary private equity fund of funds at its meeting Monday, said Dan Gallagher, chief investment officer, in an email.
VCERA previously committed $50 million to Pantheon Global Secondary Fund V in 2014 and $15 million to Pantheon Global Secondary Fund IV in 2010.
As of Dec. 31, the pension fund's actual allocation to private equity was 7.6%; the target is 13%.
Investment consultant NEPC assisted.