Louisiana State Employees' Retirement System, Baton Rouge, committed $50 million to Insight Venture Partners X, a growth equity fund, said Laney Sanders, assistant chief investment officer, in an email.
The $11 billion pension fund conducted a shortlist search for growth equity managers. Other finalists were Apax Partners and Frontier Capital.
The pension fund's allocation to private equity was 13% as of June 30. The target is 14%.
Investment consultant NEPC assisted.