Nebraska Investment Council, Lincoln, made three new commitments totaling $129 million, said Michael Walden-Newman, state investment officer, in an email.
The council, which oversees $27 billion in assets, including $12.2 billion total for five defined benefit plans and a $2.1 billion cash balance plan, committed €40 million ($49 million) to Bridgepoint Europe VI, a European buyout fund. The council previously committed €25 million to Bridgepoint Europe V in 2014.
The private equity target for the DB and cash balance plans is 5%. The actual allocation as of Dec. 31 was 4.7% in the DB plans, and 4.6% in the cash balance plan.
The council also committed $40 million each to Almanac Realty Securities VIII, a value-added real estate fund managed by Almanac Realty Investors, and Torchlight Debt Opportunity Fund VI, a real estate debt fund managed by Torchlight Investors.
The council previously committed $40 million each to Almanac Realty Securities VII and Torchlight Debt Opportunity Fund V in 2015.
The real estate target for the DB and cash balance plans is 6%. As of Dec 31, the actual allocations for all was 5.6%.
Investment consultant Aon Hewitt Investment Consulting assisted with all the commitments.