Milwaukee City Employes' Retirement System plans to search for private equity secondary funds of funds, its first allocation to the area, according to Tom Rick, chief investment officer.
The $4.2 billion pension fund plans to commit $30 million and expects to hire only one manager, Mr. Rick said in an e-mail.
The pension fund's board hasn't determined the search process or time frame, which could be in the summer, Mr. Rick said.
Callan Associates, the pension fund's investment consultant, will assist.
