Searches and Hires

Miami Fire Fighters commits $45 million to 3 private equity funds

Miami Fire Fighters' and Police Officers' Retirement Trust made three new private equity commitments totaling $45 million, recently released board meeting minutes show.

The $1.6 billion pension fund committed $15 million each to Coller International Partners VIII, a secondary fund managed by Coller Capital; Lexington Capital Partners IX, a secondary fund of funds managed by Lexington Partners; and PEG Global Private Equity VIII, a fund of funds managed by J.P. Morgan Asset Management (JPM).

As of Sept. 30, the actual allocation to private equity was 4.8%; the target is 4%.

Investment consultant Milliman assisted.

Dania L. Orta, administrator, could not be immediately reached to provide further information.