Searches and Hires

Manchester Employees sets $8 million for 2 funds

Manchester (N.H.) Employees' Contributory Retirement System made two new commitments totaling $8 million, said Gerard E. Fleury, executive director, in an email.

The $235 million pension fund committed $5 million to HarbourVest Partners Co-Investment Fund V and $3 million to Private Advisors Small Company Private Equity Fund VIII, a buyout fund of funds.

In 2017, the pension fund committed $5 million to HarbourVest International Private Equity Partners VIII and in 2014, committed $4 million to Private Advisors Small Company Private Equity Fund VI.

The private equity target is 10%; the actual allocation as of Dec. 31 was 3.2%.

Investment consultant NEPC assisted.