The plan’s board committed $50 million total to a new private equity manager and was notified of a $30 million co-investment yesterday.
The funds will target sectors including business and infrastructure software, developer tools and cybersecurity.
The commitments represent the plan’s first investment in the asset class.
The Midwestern based firm has launched a partnership with tribal governments nationwide to provide access to capital to indigenous entrepreneurs and offer education about the opportunities and pathways that exist for success.
He was previously chairman of mergers and acquisitions advisory at Citizens Bank.
The fund will commit capital globally to privately originated and negotiated credit investments.
The fund focuses on food, food technology, retail, retail technology and sustainability.
He will focus on the firm’s control private equity portfolio.
The firm closed on nearly $17 billion in total commitments to its flagship buyout fund and growth equity fund.
He will help reinforce business development, portfolio company stewardship and sourcing capabilities.