DFX Intelligence

Allocator Intelligence

Ventura County Employees Retirement Association

Public pensionmunicipal· California

Public pension, based in California, reporting $8.3B in assets, for 22,527 participants.

Composed from this allocator's classification, location and filed figures.

Assets
$8.3B
Private allocation
42.0%
Fund commitments
104
Managers
33
Contact decision makersView relationships
More
Ask DFX about this allocatorInvestment staff
Open searchesPlans backing its top managerSimilar plans, same strategyCommitments (104)Allocation policyConsultants
As of · the latest dated event for this allocator; each figure carries its own filing or report date

What may matter next

A pattern DFX replayed against history, using only what was known on each date, points at this record. The rate belongs to the pattern, not to this entity; what already happened is below.

Allocators · Re-upWindow to Sep 2027

Ventura County Employees Retirement Association

Emerging

Watch for: commits to the successor fund by Sep 2027.

What DFX sees in the record
  • DerivedVentura County Employees Retirement Association holds an address 2016 a fund and the manager's next fund in that series, an address 2025 a fund, is open (unknown).
  • DerivedNo commitment to the new fund appears on the plan's filings yet.
Why it matters

This allocator committed to the prior fund of a series that now has a successor fund. Existing LPs are the first calls in any raise, so this is the re-up list for the GP, and for a competing GP it shows whose capital may be in play.

Who this is for

GPs raising a successor fund, placement agents, and competing GPs in the same strategy.

Can you reach them

Decision maker identified; on file: LinkedIn.

Read with care: the rate belongs to the pattern, not to this one; it is not a forecast.

How the pattern measured, and every other entity on it: re-up prospects.
Allocators · Re-upWindow to Sep 2027

Ventura County Employees Retirement Association

Emerging

Watch for: commits to the successor fund by Sep 2027.

What DFX sees in the record
  • DerivedVentura County Employees Retirement Association holds a fund and the manager's next fund in that series, a fund, is open (newly closed).
  • DerivedNo commitment to the new fund appears on the plan's filings yet.

Why it matters, who it is for and how to reach them: as on the card above.

Read with care: the rate belongs to the pattern, not to this one; it is not a forecast.

How the pattern measured, and every other entity on it: re-up prospects.
Allocators · Re-upWindow to Sep 2027

Ventura County Employees Retirement Association

Emerging

Watch for: commits to the successor fund by Sep 2027.

What DFX sees in the record
  • DerivedVentura County Employees Retirement Association holds a fund and the manager's next fund in that series, a fund, is open (fundraising).
  • DerivedNo commitment to the new fund appears on the plan's filings yet.

Why it matters, who it is for and how to reach them: as on the card above.

Read with care: the rate belongs to the pattern, not to this one; it is not a forecast.

How the pattern measured, and every other entity on it: re-up prospects.

What matters now

  1. 3
    re-up prospects

    3 re-up prospects were flagged in the last twelve months: managers it backed raising a successor fund.

    Managers it already backs are raising again; a re-up decision is coming.

    Inferencea successor fund observed for a manager the plan backsRe-up prospects →

10 more people, 1 more adviser, 30 more managers, 101 more commitments and 107 more dated events

Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

People to know

View all people
  • Dan Gallagher
    Chief Investment Officer
    Why: Chief investment officer: owns the allocation decision
    No route on file yet
  • Amy Herron
    Retirement Administrator
    Why: The record names them as a decision maker
    No route on file yet

Capital path

who backs this record, through what, into what; each name opens its own path
Who decides
All 13
Ventura County Employees Retirement Association
Funds committed to
All 77
Managers
All 33

Relationship network

152 connected entities104 observed commitments21 repeat counterparties$2.3B disclosed commitments (104 commitments)13 dated commitments shown here, 2025

From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.

What stands out
Reading the network
  • Sponsor
  • Fund or vehicle
  • Service provider
  • Person
›How strength and recency are read

Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

Size, funding, policy and commitments, with their basesPublic pensionShow
Public pension
Assets
$8.3B
Total assets, Jun 30, 2024 derived
Funded
not on record
not filed
Private markets target
42.0%
policy Jun 30, 2025
Commitments
104
2 dated closings

Allocation policy

ACFR, as of Jun 30, 2025
Asset class (as printed)BucketTargetRangeActualGapBasis
Cash and EquivalentsCash0.0%0.7%+0.7reported content.vcera.org
U.S. Fixed IncomeFixed income10.0%9.6%-0.4reported content.vcera.org
Private CreditPrivate credit10.0%8.0%-2.0reported content.vcera.org
Private EquityPrivate equity18.0%18.5%+0.5reported content.vcera.org
Global EquityPublic equity9.0%10.0%+1.0reported content.vcera.org
Non-U.S. EquityPublic equity13.0%14.1%+1.1reported content.vcera.org
U.S. EquityPublic equity26.0%28.2%+2.2reported content.vcera.org
Real AssetsReal assets6.0%5.3%-0.7reported content.vcera.org
Real EstateReal estate8.0%5.6%-2.4reported content.vcera.org
Policy periods on the tape: Jun 30, 2025 (ACFR), Jun 30, 2024 (ACFR). Target changes between periods are on the what changed list.

Consultants and advisers

4 firms

+1 more consultant or adviser advise this allocator

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Decision makers

who to call first about an allocation, and why; then everyone else by function
  • Dan Gallagher · Chief Investment Officer
    Why this person: Chief investment officer: owns the allocation decision; Named with investment responsibility
  • Amy Herron · Retirement Administrator
    Why this person: The record names them as a decision maker; Confirmed current by a second source 2026-10-01
Who else at this allocator · 1 person, grouped by function
Board, advisers and operating partners (1)
  • Aaron Grass · Chair, Elected Safety Member
    Why this person: Board member

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

People

13 roles
Chief investment officer
Dan Gallagher
Chief Investment Officer (Sep 30, 2026) vcera.gov
Systems Executive Leadership & Key Staff Amy Herron Chief Executive Officer Dan Gallagher Chief Investment Officer Lori Nemiroff Chief Counsel Betsy Byrne Chief Operations Officer La Valda Marshall Ch
  • Aaron Grass Chair, Elected Safety MemberBoard chair
  • Amy Herron Retirement AdministratorExecutive director / CEO

+10 more people on the investment staff and board

Every name, title and published role at this allocator, with the page it was read from.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Manager roster

33 managers on the commitment tape
From the plan’s own commitment disclosures

+30 more managers received commitments

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What changed

112 events
  • Sep 24, 2026Re-up prospectreport dateinference
    Ventura County Employees Retirement Association holds Drive Capital Fund IV ($10M); the manager is raising: Drive Capital Fund V, L.P. (fundraising, seen 2026-09-24); no commitment to it on the graph
    with Drive Capital LLC
  • Sep 14, 2026Re-up prospectreport dateinference
    Ventura County Employees Retirement Association holds Oak HC/FT Partners V ($10M); the manager is raising: Oak HC/FT Partners VI, L.P. (fundraising, first ADV report 2026-09-14); no commitment to it on the graph
    with OAK Hcft Management Company LLC
  • Jul 20, 2026Re-up prospectinference
    Ventura County Employees Retirement Association holds CRV XX ($11M); the manager has a newer fund open: CRV Xix-C, LP (newly closed, Form D first sale 2026-07-20); no commitment to it on the graph
    with CRV, LLC
  • Dec 15, 2025re up prospect resolved
    Re-up prospect for Drive Capital Fund V, L.P.: the allocator committed (COMMITTED)
    with Drive Capital LLC
  • Dec 15, 2025Commitment closed
    Ventura County Employees Retirement Association commits $8M to Drive Capital Fund V (Drive Capital LLC), closed 2025-12-15
    with Drive Capital LLCvcera.primegov.com

+107 more dated events

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.

Commitments

104 rows, 2 dated closings
DateFundManagerBucketAmountVintageStatusSource
Dec 15, 2025Drive Capital Fund VDrive Capital LLCn/a$8.0M2026Committed (dated)vcera.primegov.com
Jul 18, 2025CRV XXCRV, LLCn/a$11.4M2025Committed (dated)vcera.primegov.com
as of Mar 31, 2025Buenaventure One, LLCunresolvedPrivate equity$326M2018Disclosed holdingcontent.vcera.org

+101 more commitments

Every fund and manager this allocator committed to, with the amount, date and source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Size and funding

57 readings
Total assets
$8.3B Jun 30, 2024 derived Census ASPP
$7.6B (2023-06) · $7.1B (2022-06)
Fiduciary net position
$8.3B Jun 30, 2024 reported Census ASPP
$7.6B (2023-06) · $7.0B (2022-06)
Long-term investments
$8.1B Jun 30, 2024 reported Census ASPP
$7.4B (2023-06) · $6.9B (2022-06)
Total pension liability
$312M Jun 30, 2024 reported Census ASPP
$229M (2023-06) · $438M (2022-06)
Discount rate
6.75% Jun 30, 2024 reported Census ASPP
7.00% (2023-06) · 7.00% (2022-06)
Participants
22,527 Jun 30, 2024 reported Census ASPP
21,726 (2023-06) · 20,966 (2022-06)
Active members
9,656 Jun 30, 2024 reported Census ASPP
9,384 (2023-06) · 9,077 (2022-06)
Beneficiaries
8,511 Jun 30, 2024 reported Census ASPP
8,257 (2023-06) · 8,077 (2022-06)
Benefits paid
$393M Jun 30, 2024 reported Census ASPP
$373M (2023-06) · $350M (2022-06)
Investment expense
$63.2M Jun 30, 2024 reported Census ASPP
$44.6M (2023-06) · $35.0M (2022-06)

Commitment history

2 decisions the board record started
VehicleManagerAmountStateProposedApprovedClosedFirst reportedOther LPs
Drive Capital Fund V, L.P.Drive Capital LLC$8.0Mclosed--Dec 15, 2025--
CRV Xx, LPCRV, LLC$11.4Mclosed--Jul 18, 2025--

Provenance

Identifiers: Census PID6 100646
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 30, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.

Not yet on record: funded ratio.

Capital chain

Ventura County Employees Retirement Association sits on 137 traced paths of capital across the graphs.

Allocator to PE fund to manager to company

DFX traced 137 paths of capital through this record

Every record on each path, what it committed or lent, and as of when.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Record history

112 dated events on the change ledger, latest event first
  • Re up prospect
    2026-09-24
  • Re up prospect
    2026-09-14
  • Re up prospect
    2026-07-20

+109 more changes on this record's ledger

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The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

›Connections

every published relationship on the graph

+81 connections on the graph

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