City of Milwaukee Employes’ Retirement System named FLAG Capital Management and Private Advisors as finalists for a $30 million commitment to a private equity small buyout fund of funds, said David M. Silber, chief investment officer.
The $5 billion pension fund expects to hire one manager.
The move would be CMERS’ first specific allocation to the area, broadening exposure it has as part of its current 2% private equity allocation.
Callan Associates is assisting in the search. The pension fund could announce a decision in March.