Alternatives
The Southern-based private equity firm has hired a managing director for its lower middle market strategy, which was launched last year.
The commitments include two new manager relationships.
The city made private equity commitments on behalf of its retirement plan and OPEB trust in June.
The plan is seeking firms that offer North American-focused fund-of-funds.
The searches follow asset class reviews by the plan’s general investment consultant.
The firm has closed its oversubscribed third growth equity fund with more than $275 million in commitments.
The plan will also receive presentations for potential real estate and private credit commitments at its next meeting.
The pension plan will aim to commit $3.1 billion total to private equity and opportunistic/diversified strategies in fiscal year 2025.
The plan rehired firms and made one new hire in its search launched last summer.
The pension plan recently made $1.2 billion in total commitments across its credit strategies, private equity and real assets portfolios.