FUNDRAISING NEWS | December 05, 2024
The Fresno County Employees’ Retirement Association has disclosed its initial pacing plan for 2025 private equity investments as it carried out a policy review and market update on the portfolio’s performance for the year.
The pension’s PE consultant Hamilton Lane presented the comprehensive review December 4 and recommended maintaining the $125M target allocation for the PE portfolio, which holds an 8% annual pacing target for the long term. Commitments will also be concentrated to core existing managers primarily in North America for individual investment sizes of $10M to $25M.
According to the policy review, the $6.9B California pension has committed to four buyout funds, and is eyeing three more investments into early next year to meet the $125M target for the current year. Of the unallocated PE positions, the pension aims to commit to two large buyout funds in Q4 of this year: $20M to an existing manager and $15M to a new manager. Meanwhile, another $15M is allotted to a middle-market buyout fund of an existing manager, to be closed in the first quarter of 2025.
