Searches and Hires

Memphis Light, Gas & Water pension plan slates $18 million for private equity

Memphis Light, Gas & Water Division, Memphis, Tenn., committed $18 million to SSM Growth Equity Fund III, Tamara Nolen, MLGW spokeswoman, said in an email.

The $1.4 billion pension fund's board approved the commitment to the growth equity fund managed by SSM Partners at its March 20 meeting.

The pension fund previously committed $8 million to SSM Growth Equity Fund II and $15 million to SSM Growth Equity Fund I.

As of March 31, the pension fund's allocation to alternatives was 9.6%.

Investment consultant Gavion assisted.