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Pension Funds

Louisiana Municipal Police Employees looking to commit $30 million to buyout fund

Louisiana Municipal Police Employees' Retirement System, Baton Rouge, is conducting a shortlist search for a buyout fund to which it plans to commit $30 million, said Benjamin Huxen II, executive director/general counsel.

The $1.9 billion pension fund's board approved the commitment at its meeting Wednesday. Investment consultant NEPC will begin with a list of six or seven potential private equity managers and their buyout funds, with finalist presentations to take place in September or October and a decision to follow shortly thereafter.

The pension fund's private equity target is 5%; as of May 31, the actual allocation was 1.2%.