Howard County Considering Private Equity Commitments

The Howard County Retirement Plan is considering two new private equity commitments, according to meeting materials from the July 20 meeting.

The Plan’s consultant, NEPC, has recommended a decrease in the 2022 private equity commitments from $45 million to $40 million.

So far in 2022, the Retirement Plan has allocated $15 million to Arlington Capital Partners VI.

To reach the $40 million commitment target, NEPC is recommending Howard County commit $10 million to StepStone Global Partners XI, a global venture capital fund of funds, and $5 million to StepStone Diversity II, a domestic venture capital fund of funds with a DEI focus.

As of June 30, 2022, the $1.3 billion Retirement Plan has an actual and target allocation to private equity of 16.1% and 13% respectively.

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