Saturday, 31 January 2015
Last updated 1 day ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…