The Vermont Pension Investment Commission, Montpelier, committed $50 million to the Siguler Guff Small Buyout Opportunities Fund V 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 fund of funds was approved at a meeting Tuesday and represents VPIC's second private equity investment with Siguler Guff & Co., Mr. Cook said in an email. VPIC previously committed $50 million to Siguler Guff Small Buyout Opportunities Fund IV in April 2019.
As of Sept. 30, the Vermont Pension Investment Commission's allocation to private equity was 6.3%. Its target allocation to the asset class 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.