The
Should it even hit the low end of its target commitment range, the $34 billion pension fund will have reached its target allocation to the asset class of 10 percent. The actual allocation now stands at 8 percent.
Areas of special interest include North American small and mid-market, sector-focused buyout funds; global corporate finance funds, especially those operating in Europe and Asia; and opportunistic direct co-investments.The pension fund is searching for an adviser to help run the co-investment program, which will likely account for about 10 percent of the limited partner’s total annual private equity commitments.
Spokesperson Dave Urbanek added that between 12 and 16 commitments will be made with the $700 million to $1.1 billion.
The new tactical plan also calls for “the development of a process that enables TRS to review and take advantage of secondary opportunities” and for “the review of older private equity investments with an eye toward selling some of these assets.”
In addition, the LP recently announced a $75 million commitment to
Pledges made in 2009 include ones to
In other news, the pension rehired