Insight

SBCERA approves private equity pacing plan

The California-based pension has approved a 25% reduction in its private equity budget for 2023.

-

Name: San Bernardino County Employees’ Retirement Association
Headquarters: San Bernardino, US
AUM: $13.9 billion
Allocation to private equity: 18.6%

The San Bernardino County Employees’ Retirement Association has approved their private equity pacing plan for 2023.

The California-based public pension plan has decided to slash their private equity budget by 25 percent. SBCERA is targeting an allocation of $525 million to the asset class, down from a $700 million allocation in 2022. It currently allocates 18.6 percent of its portfolio toward private equity.

SBCERA joins a list of US public pension funds, such as the Alaska Permanent Fund, that are reducing their private equity budget.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.