Pompano Beach (Fla.) Police & Firefighters' Retirement System made two new private equity commitments totaling $6 million, confirmed Glenda R. Rowley, executive director.
The $206 million pension fund committed $3 million each to Blackstone Tactical Opportunities Fund, managed by Blackstone Group, and GS Vintage Fund VI, managed by Goldman Sachs Group.
The board approved on Aug. 19 increasing the pension fund's allocation to private equity to 5% from 2.5% with a corresponding reduction in domestic equities. Specific details on the reduction have yet to be determined.
Graystone Consulting assisted.