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FUNDRAISING NEWS | January 29, 2025
The Vermont Pension Investment Committee (PIC) is considering a $35M investment in a US Agriculture fund and is setting up its 2025 pacing plans for private equity, private credit, and non-core real estate.
Per its January 28 meeting materials, the pension’s general consultant RVK recommended the allocation to US Core Farmland Fund to “support portfolio diversification” within real assets by “introducing a complementary strategy to existing agriculture investments” while also maintaining Vermont’s 2% farmland target allocation. As of yearend 2024, the pension allocates 1.57% of its portfolio to farmland, translating to approximately $106M in market value for the asset class.
Additionally, RVK presented a pacing analysis to the pension’s private markets portfolio for 2025, where it recommended committing $130M to private equity to achieve its 11% target; $70M to non-core real estate to achieve its 4% target; and a total of $210M to private credit, made up of $100M in direct lending and $110M in other private credit strategies, to achieve its 11% target. Both private equity and private credit benchmarks were increased from 10% last year, as reported by Dakota on July 23, 2024.
As of September 30, 2024, Vermont PIC oversees a total portfolio of approximately $6.9B in pension assets.
Written By: Dakota
July 30, 2024
September 26, 2023
November 17, 2023
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