Dallas/Fort Worth International Airport committed up to $20 million to Capital Dynamics Global Secondaries IV, a private equity secondary fund, said Michael Phemister, vice president of treasury management.
It is the airport board's first commitment to a Capital Dynamics fund on behalf of its pension plans.
The pension plans' aggregate private equity allocation was 7.6% as of March 31, and the target 12.5%.
The airport board oversees two pension funds with a combined $540 million in assets, plus two 401(a) plans and two 457 (b) plans with a combined $130 million in assets.
