Chicago Laborers' Annuity & Benefit Fund made two new private equity fund-of-fund commitments totaling $20 million.
The $1.2 billion pension fund's board disclosed commitments of $10 million each to private equity funds of funds Fairview Private Markets Fund V, managed by Fairview Capital Partners, and HarbourVest 2020 Global Fund, managed by HarbourVest Partners, at its March 24 meeting, recently released meeting minutes showed.
The pension fund issued an RFP in August for private equity managers to run commingled funds.
As of March 31, 2019, the allocation to private markets was 2.7%, the most recent data available.
Investment consultant Marquette Associates assisted.
Peggy Grabowski, interim executive director and comptroller, could not be immediately reached for further information.
