Institution: Orange County Employees’ Retirement System
Headquarters: Santa Ana, US
AUM: $20 Billion
Allocation to private equity: 16.2%
The Orange County Employees’ Retirement System has approved a new private equity pacing plan, alongside revealing new commitments.
The US public pension fund approved $750 million in commitments towards private equity for 2023 and 2024. Orange County also revealed the strategic breakdown of these commitments – with 60 percent of the capital targeting buyouts and special situations, 30 percent targeting venture/growth funds and 10 percent allocated towards co-investments.
On top of this, Orange County confirmed three commitments to private equity. $7.5 million was allocated towards AI Co-Investment I, a buyout fund managed by Advent International.
Hellman & Friedman Capital Partners XI also captured a $50 million commitment from OCERS, with the fund targeting a $23 billion final close. On top of this, $50 million was committed to One Rock Capital Partners IV, a diversified buyout fund that targets investments into North America and Europe.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.