Private Equity
The city’s two retirement systems committed $12 million apiece for pacing purposes.
The plan made up to $90 million in commitments at today’s board meeting.
Updata Partners VIII closes with aggregate capital commitments of $875 million.
The plan’s full board will approve the investment committee’s commitments this week.
The state investment management board recently made three private equity commitments.
The pension plan will consider several alternatives commitments at its board meeting next week.
The plan is considering replacing an underperforming domestic equity manager and is also asking for a list of potential private equity options.
The retirement fund added a pair of commitments to existing manager relationships last month.
The retirement association was notified of credit, private equity and real estate commitments last week.
Kinterra Critical Materials & Infrastructure Opportunities Fund II closed at its hard cap of $950 million.