The Ventura County Employees’ Retirement Association (VCERA) provides retirement benefits to employees of Ventura County, California. With approximately $7 billion in total assets, VCERA operates under California’s County Employees Retirement Law of 1937.
Investment Strategy
VCERA maintains a diversified portfolio across public equities, fixed income, private equity, real estate, and other alternatives. The Board of Retirement sets strategic allocation targets informed by asset-liability studies.
The alternatives program includes private equity investments in buyout and growth strategies, and real estate through core and value-add funds. VCERA has built its alternatives exposure over the past decade to improve return diversification.
How to Approach
Fund managers should contact the VCERA investment team in Ventura or engage through their consultant. VCERA evaluates managers on track record, team stability, and fee structure. GPs should present a clear fund overview and audited performance data.
Frequently Asked Questions
What is VCERA's alternatives allocation?
VCERA allocates approximately 15% of its $7 billion portfolio to alternatives including private equity and real estate, representing roughly $1 billion in alternatives exposure.
How does VCERA select investment managers?
VCERA works with external investment consultants to identify and evaluate managers. The Board of Retirement reviews and approves all commitments. Selection criteria include track record, team depth, and fee competitiveness.
How can GPs engage with VCERA?
GPs should contact the VCERA investment team in Ventura or their consultant. Typical commitment sizes range from $15 million to $50 million. The fund values established managers with strong track records.
