Baton Rouge/East Baton Rouge Employees commits $8 million to private equity

Baton Rouge (La.) & Parish of East Baton Rouge Employees’ Retirement System committed $8 million to Fort Washington Private Equity Investors IX, a fund of funds, said Jeffrey R. Yates, retirement administrator.

It is the first time the $1.1 billion pension fund has made a commitment to a fund of funds managed by Fort Washington Capital Partners Group.

The pension fund’s private equity target is 5%. The actual allocation was 2.2% as of June 30, and the pension fund is in the middle of a seven-year process of reaching its target. This is the only private equity commitment for the pension fund in 2017, Mr. Yates said.

Investment consultant Summit Strategies Group assisted.