Louisiana Firefighters' Retirement System, Baton Rouge, committed $25 million to Landmark Equity Partners XV, a secondary private equity fund managed by Landmark Partners, according to recently released board meeting minutes.
It is the first private equity commitment of the year for the $1.4 billion pension fund, which earlier announced plans to commit $25 million each to a secondary private equity fund and a buyout growth manager in 2014.
The hire is pending contract negotiations, according to the April 10 minutes. The other finalist, Lexington Capital Partners, which presented its Lexington Capital Partners VIII at the meeting, will be hired if “a contract cannot be perfected,” according to the minutes.
Investment consultant NEPC assisted.
Steven Stockstill, executive director, did not reply to requests for further information by press time.