At its meeting on February 28, 2023, the Board approved a new asset allocation policy. The changes include a 2% increase to Growth assets, a 1% reduction in Diversifying assets and a 1% reduction in Inflation Hedge assets. The new policy has a target allocation of 59% to Growth assets, 18.5% to Diversifying assets, 17% to Inflation Hedge assets and 5.5% to Liquidity assets.
The Board of Retirement then approved a re-up commitment of $10 million to Eclipse Fund V L.P., as part of SamCERA’s Venture Capital portfolio within Private Equity.
The Board also approved a re-up commitment of $30 million to Clayton Dubilier & Rice XII L.P., as part of SamCERA’s Buyout portfolio within Private Equity.
Lastly, the Board also approved a re-up commitment of $30 million to Stockbridge Value Fund V L.P., as part of SamCERA’s Value-Add portfolio within Real Estate.
No further board action was taken related to SamCERA’s investment commitments or hires.
More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter.