Colorado PERA CIO Flags Equity Concentration Risk

Colorado PERA is leaning harder into patience and global diversification as it heads toward 2026, with CIO and COO Amy McGarrity flagging rising concentration risk in US public equities and reiterating that market forecasting plays a limited role in PERA’s process. The pension is positioning its public equity exposure around global benchmarks to reduce structural US bias while keeping a long-horizon posture despite periodic style headwinds.

Elsewhere on the allocator front, Illinois SURS launched an emerging manager RFP spanning global small cap, global growth, emerging markets, and ACWI ex-US public equity mandates, with $50M to $100M expected across multiple awards. New Mexico’s SIC approved up to $30M for At One Ventures III, while Plymouth County Retirement Association committed $10M each to AQR and Callodine to complete its hedge fund search and retained Driehaus and ABS for an approximately $18M emerging markets equity mandate.

GP-side fundraising included EQT’s plans to launch its first open-ended continuation fund tied to EdgeConneX, alongside expectations to finish BPEA IX fundraising at its $14.5B hard cap in early 2026 and additional closes across healthcare growth and European real estate logistics. Francisco Partners is targeting $14B for Fund VIII, with Oregon PERS already signing on with a $250M commitment, while HarbourVest closed a $1.1B structured secondaries vehicle backed by Ares-managed capital and senior financing from Blackstone Credit and Insurance-managed funds.

In Europe, Investec Alternative IM closed Private Debt Fund II at €600M and Ambienta topped €500M for its sustainable credit opportunities strategy. Separately, Legal & General appointed Tim Morris and Philipp Westermann to lead its real assets platform, and Federal Retirement Thrift CIO Sean McCaffrey is set to retire at the end of February.

Read on for all the day’s fundraising news headlines.

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