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Memphis Light, Gas & Water sets $25 million for GPB Capital

Memphis Light, Gas & Water Division, Memphis, Tenn., committed $25 million to GPB Holdings II, an expansion/late-stage middle-market private equity fund, recently released pension board meeting minutes said.

It is the first commitment for the $1.4 billion pension plan to a fund managed by GPB Capital.

Investment consultant Gavion assisted.

Tamara Nolen, Memphis LGW spokeswoman, could not be immediately reached to provide further information.