Houston Firefighters’ Relief and Retirement Fund will sell its interest in Blackstone Core Equity Partners, the first of Blackstone’s long-hold buyout funds.
The $5.6 billion pension fund’s investment committee approved the sale at its Feb. 18 meeting, recently released meeting minutes showed.
The terms of the sale, and how much HFRRF had invested in the fund, were not disclosed in the minutes. The pension fund originally committed up to $100 million to the Blackstone fund.
Blackstone Core Equity Partners closed at $4.75 billion in 2016.
As of June 30, the pension fund’s actual allocation to private equity was 35%.
An HFRRF spokesperson could not be immediately reached for further information.
