The Vermont Pension Investment Commission, Montpelier, committed $25 million to the Dunes Point Capital Fund III on behalf of the $5.8 billion Vermont State Retirement Systems, according to Andy Cook, an investment analyst with the Vermont State Treasurer's Office.
The commitment to the buyout fund managed by Dunes Point Capital was approved at a VPIC meeting on July 25, Mr. Cook confirmed in the email.
The investment represents VPIC's first commitment with Dunes Point Capital, according to VPIC meeting documents.
As of June 30, VPIC's allocation to private equity was 10.24%. 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.
