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DCRB backs Paine Schwartz Food VI

District of Columbia Retirement Board commits to Paine Schwartz's sixth food and agribusiness fund

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Name: District of Columbia Retirement Board
Headquarters: Washington DC, US
AUM: $9.5 billion
Allocation to alternatives: 23%

District of Columbia Retirement Board (DCRB) has made a commitment of $100 million to Paine Schwartz Food Chain Fund VI, according to its 17 November board meeting documents.

The US-based fund manager, Paine Schwartz Partners, launched its sixth food chain fund in 2022 with a target size of $1.5 billion. Paine Schwartz Food Chain Fund VI makes investments in food and agribusiness sectors in North America, Western Europe and Australia/New Zealand.

DCRB allocates 11 percent of its investment portfolio to private equity, amounting to $1 billion in capital. The Washington, DC-based pension fund has a target allocation of 9 percent to the asset class.

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