Springfield (Mo.) Police Officers' & Firefighters' Retirement System committed $17.5 million to Crown Secondaries Special Opportunities II.
The $548 million pension fund's board approved the commitment to the secondary private equity fund managed by LGT Capital Partners at its Feb. 11 meeting, said Janell Manley, administrative director.
It is the pension fund's first commitment to private equity, Ms. Manley said.
As of Dec. 31, the pension fund's actual allocation to alternatives was 22.1%; the target is 34%.
Investment consultant Segal Marco Advisors assisted.