Nashville-Davidson County commits to private equity, infrastructure

Metropolitan Government of Nashville (Tenn.) and Davidson County Employees Benefit Trust Fund committed $70 million in alternatives, confirmed Fadi BouSamra, chief investment officer, in an e-mail.

The $2.2 billion pension fund committed $40 million to HarbourVest Partners 2012 Direct Fund, a private equity fund, and $30 million to Riverstone Global Energy & Power Fund V, an infrastructure fund.

Investment consultant Summit Strategies Group assisted.

Separately, the pension fund returned 1.55% in the fiscal year ended June 30. The top-performing asset class was fixed income at 9.31%. The worst-performing asset class was international equity at -11.46%.