VCERA raises PE target allocation

The US public pension increased its private equity target allocation by three percent.

Institution: Ventura County Employees Retirement Association
Headquarters: Ventura, United States
AUM: $5.57bn
Allocation to alternatives: 20.1%

Ventura County Employees Retirement Association has increased its target allocation to private equity from 10.0 percent to 13.0 percent in May 2019, revealed in its recent meeting document. The US pension funded the increase for its new target for PE by decreasing the target for real assets to 7.0 percent from 10.0 percent.

The $5.57 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 4.6 percent.

As illustrated in the charts below, the pension’s last commitment to a private equity fund was $40 million to 2018 vintage Dover Street X.

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