Fresno Allocates $110M To Private Equity Funds

Aug 16 2007 | 11:02am ET

The $2.4 billion Fresno County Employees’ Retirement Association has voted to allocate $110 million to a trio of private equity funds.

According to the minutes of the system’s July 18 meeting, FCERA’s investment board voted to allocate $70 million to fund of private equity funds shop Portfolio Advisors, which beat out Harborvest and Hamilton Lane for the mandate.

FCERA also allocated $25 million to Warburg Pincus on top of the existing $45 million the firm already manages for the pension fund.

Also, the system allocated another $15 million to New Mountain Capital on top of the $25 million it had previously invested with the firm.

The pension fund had a 5% allocation to alternatives as of the end of March.


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