Fairfax County Educational Employees’ Commits $21.5M to Alts; Sets 2023 Commitment Pacing

The Fairfax County Educational Employees’ Supplementary Retirement System has disclosed two alternative investments in addition to their recommended commitment targets for 2023. 

$6 million was committed to core plus real estate fund, Hammes Income & Growth Healthcare Fund. According to meeting materials, “The Fund will seek to make investments in medical office buildings and ambulatory care centers”. Additionally, $15.5 million was committed to BCP Fund III, a real assets fund managed by Bernhard Capital Partners.

Also disclosed in the materials from the January 20 board meeting were the recommended commitment targets for asset classes in 2023. Investment consultant Meketa recommends $35 million be committed to private equity across eight partnerships focusing on buyout strategies. $50 million was recommended for private credit across four partnerships focusing on yield oriented and total return strategies. $35 million was recommended for real estate across five partnerships. $5 million was recommended for non-core infrastructure and $20 million to core/core plus infrastructure. And $56 million was recommended for natural resources investments across four partnerships.

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