New Bedford Retirement System boosts PE exposure

The US public pension has upped its allocation to the asset class.

Institution: New Bedford Retirement System
Headquarters: New Bedford, United States
AUM: $326.39m
Allocation to alternatives: 20.22%
Bitesize: $5-10m

New Bedford Retirement System increased its private equity allocation by 0.26 percentage points from 8.20 percent in December 2018 to 8.46 percent in June 2019, a contact at the pension informed Private Equity International.

The Massachusetts-based public pension has a 10.0 percent target allocation to private equity.

As illustrated below, the pension has been consistently increasing its allocation to the asset class over the last few years, with private equity exposure now nearly 4.50 percentage points greater than in December 2015.

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