DCRB approves $40m commitment

The US public pension has backed Updata Partners' sixth growth equity fund.

Institution: District of Columbia Retirement Board
Headquarters: Washington DC, United States
AUM: $8.54bn
Allocation to alternatives: 13.0%
Bitesize: $10-50m

District of Columbia Retirement Board has agreed to commit $40 million to Updata Partners VI, according to the pension’s September board meeting minutes. This is the first time DCRB has committed to a fund managed by growth equity specialists Updata Partners.

The $8.54 billion US public pension has a 9.0 percent target allocation to private equity which currently stands at 5.0 percent.

As illustrated below, DCRB has made one other commitment to a 2018-vintage private equity fund: $40 million to Wellspring Capital Partners VI.

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