City of Milwaukee Employes’ Retirement System committed $40 million to Mesirow Financial Private Equity Partnership Fund VII, a fund of funds managed by Mesirow Financial Private Equity.
The commitment was the result of a recommendation of Callan Associates, the $4.7 billion pension fund’s investment consultant, said David M. Silber, CMERS chief investment officer, in an e-mail.
The move is part of CMERS’ effort to reach its 5% private equity target allocation, Mr. Silber said. Its actual allocation was 3.8%, or $181 million, as of Dec. 31.
CMERS has $62 million invested in Mesirow Financial Private Equity Partnership Fund V and $11.6 million in Mesirow Financial Private Equity Partnership Fund VI.
