Orange County Commits $110M to Alts; Reviews 2023 Commitment Pacing

The Orange County Employees’ Retirement System has disclosed four alternative investments totaling up to $110 million.

$50 million was allocated to EnCap Flatrock Midstream V. $35 million was committed to private equity fund, Genstar Capital XI. $12.5 million was allocated to venture capital fund, Mayfield XVII. Additionally, $12.5 million was allocated Mayfield Select III.

Staff also reviewed 2023 commitment pacing plans.

Within the Private Income portfolio, 2023 will target $400 million in commitments. The pacing plan calls for $100 million per commitment across three to five partnerships.

$350 million to $400 million is being targeted to Real Assets. The pacing plan calls for $50 million to $100 million per commitment across three to five partnerships. 66% will be targeted to infrastructure, 32% to energy, and 0-2% to timber/agriculture.

$750 million is being targeted for private equity in 2023 and in 2024. 60% of which will be targeted to buyouts, 30% to venture/growth, and 10% to co-investments.

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