LLCP Lower Middle Market IV closes with $2 billion in total capital commitments, surpassing its $1.7 billion target and closing at its hard cap.
The firm brought on a new managing director from Clearlake Capital Group.
The role has been vacant following the promotion of the former deputy to cio last year.
The retirement system committed to the next fund in a series after its last commitment to the manager in 2022.
The plan hired its current investment consultant following its last search for the services in 2021.
The utilities board has worked with the incumbent provider since 2019.
Regal Healthcare Capital Partners IV at $610 million of total commitments, including approximately $575 million of external commitments, on an original target of $550 million.
The deadline for applications in the search is July 21.
The plan concluded its global equity manager search with a replacement for one existing firm.
The retirement system is seeking strategies across the international equity spectrum.