DCRB makes $50m commitment

The US public pension has re-upped with Advent International's Latin American buyout fund series.

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 $50 million to Advent Latin America Private Equity Fund VII, according to the pension’s October Board meeting minutes. DCRB previously committed $20 million to the buyout fund’s 2014-vintage predecessor.

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

As illustrated below, DCRB has committed to three private equity funds with a 2018 or 2019 vintage, which combined constitute $130 million.

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