Private Equity
The retirement association interviewed a total of six firms last month.
The firm’s second institutional fund was oversubscribed and closed with $1.13 billion in total capital commitments.
The investment firm, which was founded this year, closes its inaugural private equity fund $50 million above its target fundraise in less than five months.
The commitment was made in accordance with a 2024 pacing plan.
The plan committed $70 million total across three funds in the last several months.
The plan’s current illiquid consultants will see their contracts expire.
The commitments include a $300 million commitment to a separately managed account focused on private credit emerging managers.
The pension plan considered approving a $20 million credit commitment today.
The pension plan’s investment committee approved four commitments totaling $275 million last week.
The pension plan made $512.9 million in total private equity commitments and $90 million in total real estate commitments in the second quarter.