Private Equity
The firm has raised $3.5 billion in total capital for its eighth private equity fund.
The internal investment pilot is part of the board’s efforts to enhance investment outcomes.
The commitment represents a new relationship for the city’s three pension plans.
The retirement system is seeking to establish a pool of “possibly two to three” consulting firms to advise on co-investments.
The retirement system made a $25 million private equity commitment last month.
The plan will interview three international equity managers, including its incumbent, this summer.
Two prominent foundations are among the group of endowments, foundations, pensions, corporations and family offices to commit to a firm’s recently closed second venture fund.
The pacing plans call for a total of $105 million to private markets this year.
The retirement system also canceled its general investment consultant RFP and approved a 2025 private markets pacing plan in January.
The fund was oversubscribed and raised in less than six months.