The Howard County Retirement Plan is considering two new private equity commitments, according to meeting materials from the July 20 meeting.
The Plan’s consultant, NEPC, has recommended a decrease in the 2022 private equity commitments from $45 million to $40 million.
So far in 2022, the Retirement Plan has allocated $15 million to Arlington Capital Partners VI.
To reach the $40 million commitment target, NEPC is recommending Howard County commit $10 million to StepStone Global Partners XI, a global venture capital fund of funds, and $5 million to StepStone Diversity II, a domestic venture capital fund of funds with a DEI focus.
As of June 30, 2022, the $1.3 billion Retirement Plan has an actual and target allocation to private equity of 16.1% and 13% respectively.
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