The increased estimated fees are due to greater commitments in the space, and do not include performance fees.
LPs may be better served to make sure they have liquidity elsewhere in their portfolio before making drastic changes to their private markets allocations.
The fund entered into its second co-investment vehicle with asset manager Neuberger Berman.
"The most important thing is to have a plan and stick with the plan. Nobody knows how this is going to play out. Let's not shoot all our bullets at one time.”
The pension's portfolio has lost billions in value as the public markets have struggled due to the coronavirus pandemic.
The pension invested in recent funds from Cortec Group, Leonard Green & Partners and Volition, among others.
“It might not be because of the coronavirus directly, but certainly because of all that’s being done to prevent or slow the spread of it”
The fund is targeting $10bn and eyeing a first close by the end of next month.
OPTrust has in recent years grown its private equity portfolio's share of direct deals and co-investments to roughly 50% of assets.
Christopher Schelling will move to Windmuehle Funds, an Austin-based alternative investments manager founded in 2018.