Colorado Pension Pledges To Four; Approaches Target

The Fire and Police Pension Association of Colorado recently pledged nearly $60 million to several private equity strategies, including international, distressed and small to mid-market buyout funds, as the limited partner approaches its target for the asset class.

The $2.9 billion plan sponsor’s actual allocation to private equity stands at 13 percent, just below its target allocation of 14 percent, according to CIO J. Scott Simon.

Netherlands-based Gilde Buy Out Partners received a slug of €11 million ($13.4 million) for its fourth fund, earmarked for mid-market deals in Western Europe. Gilde Buy-Out Fund IV closed on June 30 with €800 million. Elsewhere, Hong Kong-based SAIF Partners received a pledge of $10 million for its fourth fund, earmarked for growth equity and buyout deals in China and India. The vehicle is reportedly nearing a close with $1.25 billion.

In the distressed arena, the pension committed $15 million to H.I.G. Bayside Loan Opportunity Fund II, earmarked for distressed loan investments. Bayside Capital, an affiliate of H.I.G. Capital, buys bank and public debt, including senior bank debt, junior secured debt, mezzanine debt and bonds. The firm is seeking $1 billion for the vehicle, according to a May filing with the Securities and Exchange Commission.

And on the buyout front, the pension pledged $20 million to J.H. Whitney & Co.’s J.H. Whitney VII LP, which will be used for investments in U.S.-based small and mid-sized companies with strong growth prospects. The firm is seeking $800 million, according to a regulatory filing.