Orange County Commits $385M to Alternatives

The Orange County Employees’ Retirement System has disclosed $385 million in new alternative investments.

In private equity, $40 million was committed to buyout fund, Accel-KKR Capital Partners VII. $35 million was committed to venture capital fund Insight Partners XIII. $50 million was allocated to the Eighth Cinven Fund. $20 million was committed to Greenoaks Capital Opportunities V. Four funds managed by GGV Capital. $24 million was committed to GGV IX, $6 million to GGV IX Plus, $5 million to GGV Discovery IV US, and $5 million to GGV Discovery IV Asia.

In addition, value-add real estate fund, Waterton Residential Property Fund XV received a $100 million commitment.

$100 million was committed to SVP Capital Solutions Fund II, a private credit fund managed by Strategic Value Partners.

As of December 31, 2022, the $20 billion Retirement System has an actual and target allocation to private equity of 16.2% and 13% respectively. The actual and target allocation to real assets was 14.1% and 12% respectively. The actual and target allocation to private credit was 3.9% and 2.5% respectively.

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