Alaska Retirement Management Board, Juneau, committed $90 million total to two funds, said materials prepared for this week’s board meeting.
Gary Bader, the board’s chief investment officer, committed $50 million to Neuberger Berman’s Secondary Opportunities Fund IV and $40 million to Summit Partners Growth Equity Fund IX.
Mr. Bader has discretion to commit up to $100 million each to new investment funds.
The board, which oversees more than $28 billion in retirement assets and has a 12% long-term private equity target, has previously committed to other Summit Partners funds.
Mr. Bader was not immediately available for additional information.