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July 31, 2017 01:00 AM

Louisiana State Employees sets $75 million for buyout fund

Rob Kozlowski
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    Louisiana State Employees' Retirement System, Baton Rouge, committed $75 million to Bernhard Services Fund II, a buyout fund managed by Bernhard Capital Partners Management, said Robert W. Beale, chief investment officer, in an email.

    The $11.9 billion pension fund previously committed $50 million to Bernhard Capital Services Fund in 2015.

    Mr. Beale said the pension fund also will interview finalists at its Aug. 24 meeting for a growth equity private markets manager following a shortlist search. The finalists are Apax Partners, Frontier Capital and Insight Venture Partners. A commitment amount has yet to be determined.

    The pension fund's actual allocation to private equity was 13% as of March 31. The target allocation is 14%.

    Investment consultant NEPC assists with all commitments.

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    December 12, 2022 page one

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