FUNDRAISING NEWS | January 06, 2025
The Contra Costa County Employees Retirement Association (ERS) is looking at between $340M and $510M in private equity commitments and $60M to $90M in infrastructure for its 2025 pacing plan.
The projected allocation range, disclosed in recently published materials related to its December 11, 2024, meeting, followed its year-end private equity review where the pension saw approximately $305M in total commitments for 2024.
In a presentation to the board, consultant Stepstone recommended that the pension annually commit $425M to private equity and $75M to real assets on average to maintain the pension’s long-term benchmarks in the asset classes. Contra Costa’s private equity portfolio carries a 15% target, while its real assets portfolio carries 3%, until 2035.
The California pension also projects re-up activity for up to two new funds anticipated to be launched by existing managers, and is looking at sourcing two to three new GP relationships for 2025. In 2024, the $11B pension said it closed deals with four funds representing $230M in commitments and is reviewing a fund for a potential $75M allocation.
