City of Quincy (Mass.) Contributory Retirement System is increasing its private equity allocation to 5% of total assets, from 1%. Officials at the $270 million pension plan want to commit $5 million to $10 million to a diversified private equity fund of funds, said Eric W. Stewart, consultant with plan consultant Meketa Investment Group; the plan already has commitments with two private equity managers, which Mr. Stewart would not identify. Funding for the new commitment would come from a general rebalancing, according to Mr. Stewart, who added that no manager would be terminated as a result of the rebalancing. A posting on the Massachusetts Public Pension Forum's website at www.mppf.org said the retirement board intends to commit the funds within the next six months.
Marguerite Lightbourne, deputy director of the Quincy retirement board, referred questions to Meketa.