On the fund side, DCM backs venture capital, growth equity, buyouts, real estate and other kinds of alternative investment funds.
The Minnesota State Board of Investment has been considering commitments of up to $575 million to alternative investment funds, according to documents prepared for the board’s Feb. 29 meeting.
The new vehicle comes as other firms are starting to offer similar products aiming to make the private markets more accessible to a broader range of investors.
DePonte launched Bennington, Vermont-based Kelly DePonte Advisory after retiring this month as managing director and head of research at San Francisco-based placement agency Probitas Partners, where he remains a senior advisor.
Stephen Gilmore is tapped to join the California Public Employees’ Retirement System as chief investment officer this July.
Notably, the $4.2 billion pension fund, which has a 10 percent target allocation to private equity, plans to consider adding to its small or mid-sized buyout portfolio, as well as to its venture capital/growth equity portfolio.
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