Searches and Hires

Nebraska Investment Council pledges $129 million to 3 managers

Nebraska Investment Council, Lincoln, made three new commitments totaling $129 million, said Michael Walden-Newman, state investment officer, in an email.

The council, which oversees $27 billion in assets, including $12.2 billion total for five defined benefit plans and a $2.1 billion cash balance plan, committed €40 million ($49 million) to Bridgepoint Europe VI, a European buyout fund. The council previously committed €25 million to Bridgepoint Europe V in 2014.

The private equity target for the DB and cash balance plans is 5%. The actual allocation as of Dec. 31 was 4.7% in the DB plans, and 4.6% in the cash balance plan.

The council also committed $40 million each to Almanac Realty Securities VIII, a value-added real estate fund managed by Almanac Realty Investors, and Torchlight Debt Opportunity Fund VI, a real estate debt fund managed by Torchlight Investors.

The council previously committed $40 million each to Almanac Realty Securities VII and Torchlight Debt Opportunity Fund V in 2015.

The real estate target for the DB and cash balance plans is 6%. As of Dec 31, the actual allocations for all was 5.6%.

Investment consultant Aon Hewitt Investment Consulting assisted with all the commitments.