Fairfax County Ed Commits $11M to Private Equity, Real Estate

The Educational Employees’ Supplementary Retirement System of Fairfax County (ERFC) has committed $11M to private equity and real estate, per documents from its October 18 board meeting.

The new allocations include $5M to Linden Capital Partners VI, a middle-market buyout fund, and $6M to CBRE US Logistic Partners, a core-plus real estate vehicle. Meketa Investment Group assisted in making these recommendations.

ERFC has established a 7.0% target allocation for private equity investments. As of June 30, the system had committed $446.8M across 56 private equity partnerships, with a fair market value of $343.4M, representing 10.7% of total assets. In real estate, ERFC also targets a 7.0% allocation, with four new commitments made during the second quarter of 2024. By the end of Q2, ERFC had committed $406M to 24 real estate partnerships, with a fair market value of $270.3M, or 8.4% of total plan assets.

Existing manager relationships in ERFC’s real estate portfolio include Carlyle, Centerbridge, and Sterling, while the private equity portfolio includes managers such as Hidden Harbor, KPS, and FS Investments.

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