DC coughs up $250m for private markets  

At its Jan. 20 meeting, the board of the approximately $11 billion District of Columbia Retirement Board (DCRB) approved commitments to private market funds to the tune of about $325 million.

Trustees also approved the system’s 2022 Private Markets Commitment Budget, which was proposed by consultant Meketa Investment Group.

According to meeting minutes, the board approved a commitment of up to $75 million to Turning Rock Fund II, a U.S. private debt fund, and a commitment of up to $75 million to Updata Partners VII, a U. S. growth equity fund.

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Mark Fortune

Mark Fortune has more than 30 years of experience as a financial writer and editor, with a focus on institutional investment management. He has worked in various editorial roles at organizations that include Institutional Investor, Pageant Media, Markets Group and, most recently, at New York investment management firm Cohen & Steers.

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