Vermont Pension Investment Commission, Montpelier, committed $60 million to three private equity funds, according to Andy Cook, an investment analyst with the Vermont State Treasurer’s Office.
The overseer of the $6.2 billion Vermont State Retirement Systems committed $20 million to Nautic Partners XI, a buyout fund, at a VPIC meeting March 26. It was VPIC’s first investment with the asset manager.
VPIC also committed $20 million each to HarbourVest Co-Investment Fund VII and HarbourVest Partners XIII-Venture Fund, Cook said. The co-investment fund and the venture capital fund of funds, respectively, are both managed by HarbourVest Partners. HarbourVest is an existing relationship for the pension fund.
As of Feb. 29, VPIC’s allocation to private equity was 10.4%. Its target allocation is 10%.
The three pension funds that make up the Vermont State Retirement Systems are the Vermont Municipal Employees’ Retirement System, Vermont State Teachers’ Retirement System and the Vermont State Employees’ Retirement System.
