Milwaukee City Employes’ Retirement System committed $15 million to Private Advisors Small Company Private Equity Fund VII, a lower middle-market buyout fund of funds, said David Silber, chief investment officer, in an e-mail.
The $4.8 billion pension fund previously committed $30 million to Private Advisors Small Company Private Equity Fund VI in June 2015.
The pension fund’s private equity target is 4%. As of Sept. 30, the actual allocation was 4.6%.
Investment consultant Callan Associates assisted.