Piter,
I (mis)read it in a third way which requires another approach which can be chosen among multiple options.
One is based on blends upon blends and requires much explanation.
Another is based on a Graphic Style and requires a bit of calculation but is easier to explain:
As I (mis)understand it, you wish to have 5 larger circles and 15 smaller circles placed evenly round a stroked circle of a certain size, evenly in the sense that you have the same space in between circles, corresponding to Align>Distribute Spacing rather than Align>Distribute Objects (the latter having the same distance between centres or similar).
As the Graphic Style approach you can, see imagery at the end:
1) Create the circle with the desired W = H and the desired Stroke Weight with Round Cap and Round Join to form the background of the final shape or just a reference;
2) Ctrl/Cmd+C+F to create a copy on top, lock the original, and select the copy circle;
3) Use the free Divide script from the link (佐藤浩之, Satō Hiroyuki) below, then cut the circle at the top Anchor Point and at every fourth Anchor Point clockwise to get five separate paths;
or
3) Use the free Circle script from the link (佐藤浩之, Satō Hiroyuki) below, then cut the circle at all AnchorPoints;
4) Select (one of) the bottommost path(s) (the easiest one or any of the others), then:
4a) In the Appearance palette Add New Stroke and set the Stroke Weight to the W/H of the larger circles, then click Dashed Line and set the (first) Dash to 0 and set the (first) Gap to the Length value in Document Info (if the second circle fails to show reduce the Gap value a wee bit so it does;
4b) In the Appearance palette Add New Stroke and set the Stroke Weight to the W/H of the smaller circles, then click Dashed Line and set all Dashes to 0 and set all Gaps to the following value: use the Length minus the larger W/H and minus 3x the smaller W/H, the result divided by 4, and then add the smaller W/H (this looks wrong but only till the next step);
4c) Change the First Gap in 4b) by adding half the difference between the W/H of the larger circles and the W/H of the smaller circles (this ought to put it right);
The Graphic Style build up is shown separately in the imagery;
Now you ought to have a circle where the bottommost fifth has the desired appearance;
5) ClickDrag 4) into the Graphics Style palette (and name it as desired);
6) Select the four other fifths and click the Graphic Style from 5);
Now you ought to have the desired appearance of the full circle with circles;
7) Group everything, including 1) if desired, after unlocking it.
Link to the Divide script and others by (佐藤浩之, Satō Hiroyuki):
http://shspage.com/aijs/en/

Click here to see in Chrome
Edit: Missing parts in 4b and 4c added in red text.
Edit edit:
An alternative version of 3) using the Circle Script is shown in magenta;
The numbers shown in blue can be changed to make the solution work for similar shapes with other numbers of larger and smaller circles, just add or subtract 1 for each circle more or less (total number for larger circles (5 in this case) and number of smaller circles between each pair of larger circles (3 in this case)).