The $2.5 billion Fire and Police Pension Association of Colorado intends to commit $75 million to private equity in 2009, primarily to small buyout and distressed funds, said J. Scott Simon, the pension’s CIO.
So far this year, the limited partner has committed $7.5 million to TA Associates‘s eleventh fund. Boston-based TA Associates intends to raise $3.5 billion for TA XI to make growth equity investments in technology, financial services, business services, healthcare and consumer sectors in North America, Europe and India. According to a May regulatory filing, the firm has already gathered $2.83 billion in commitments.
Also this year, the pension fund pledged $10 million to New Enterprise Associates for its thirteenth venture capital fund, NEA XIII. As of January, the Menlo Park, Calif.-based firm had raised $1 billion for the vehicle, which will make VC plays in information technology, health care and biotechnology companies.
Colorado’s target allocation to private equity is 9 percent, and its actual allocation stands at 11.8 percent. Hamilton Lane serves as the pension fund’s discretionary adviser for private equity investments.
In 2008, the LP pledged to energy fund First Reserve Fund XII LP and generalist fund Catterton Partners VII LP.
At the end of December, the pension fund gained a new CEO when Dan Slack, former executive director of the Illinois State University Retirement System, came on board.