Memphis Light, Gas & Water Division, Memphis, Tenn., is searching for private equity special situations funds to which it plans to commit a total of $50 million for its $1.7 billion pension fund.
The division's pension board approved the search at its March 17 meeting, recently released meeting minutes show.
Investment consultant CBIZ Investment Advisory Services recommended the search because the pension fund remains under target in private equity.
The minutes did not disclose whether interested managers can contact the investment consultant.
Separately, the pension fund's board approved follow-on commitments of $5 million each to value-added real estate funds Heitman Value Partners V and TerraCap Partners V, managed by TerraCap Management. The board originally approved commitments of $25 million each to the funds at its meeting in September.
MLGW spokeswoman Stacey Greenberg could not immediately provide further information.