Anne Arundel County Retirement and Pension System, Annapolis, Md., made two follow-on private equity commitments totaling $50 million.
The $1.9 billion pension fund's board at its Feb. 16 meeting approved follow-on commitments of $25 million each to PA Small Company Private Equity Fund IX, a buyout fund of funds managed by PA Capital, and PIMCO Private Income Fund, an evergreen private credit fund managed by Pacific Investment Management Co., recently released meeting minutes show.
The pension fund originally committed $20 million to PA Small Company Private Equity Fund IX in November 2019, and $25 million to PIMCO Private Income Investment Fund in August 2019.
The pension fund's target allocation to private markets is 12%.
Investment consultant NEPC assisted.
Officials at the system could not be immediately reached for further information.
