Franklin (Tenn.) Employees’ Pension Plan hired Hamilton Lane to run $2 million to $4 million in a secondary private equity fund of funds, confirmed Steven Roth, director of manager research at Dahab Associates, investment consultant to the $55 million fund.
It is a new allocation for the plan and likely will be funded from cash, said Mr. Roth.
An RFP was issued in March. HarbourVest Partners was the other finalist.
Shirley K. Harmon, human resources director for the city of Franklin, was not available for comment by press time.