Louisiana Municipal Police Employees Retirement System, Baton Rouge, committed $12.5 million each to HarbourVest Partners Co-Investment Fund IV and J.F. Lehman Equity Investors IV, a buyout fund managed by J.F. Lehman & Co., said Kathy Bourque, director, in an e-mail.
The $1.8 billion pension fund conducted a shortlist search earlier this year for buyout/growth managers to bring the pension fund closer to its 5% target to private equity. As of Aug. 31, the actual allocation was 1.2%.
Private Advisors was the other finalist.
Investment consultant NEPC assisted.