OCERS confirms $50m commitment

The US public pension backed Oak HC/FT and its first billion-dollar fund.

Institution: Orange County Employees Retirement System
Headquarters: Santa Ana, United States
AUM: $17.74 billion
Allocation to alternatives: 31.07%

Orange County Employees Retirement System approved a $50 million commitment to Oak HC/FT Partners Fund IV at its March 2021 board meeting, a contact at the pension informed affiliate publication Private Equity International.

In February, Oak announced it raised $1.4 billion for the fund to invest in the healthcare and fintech sectors.

OCERS has a 13 percent target allocation to private equity that currently stands at 11.05 percent.

As illustrated below, the $17.74 billion US public pension’s recent private equity commitments have tended to target venture capital and growth equity funds in North America, Europe and Asia.

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