Chicago Park Employees’ Annuity & Benefit Fund committed $15 million to Mesirow Private Equity Fund IX.
The $394 million pension fund’s board approved the commitment to the private equity fund of funds managed by Mesirow Financial at its May 16 meeting, recently released meeting minutes showed.
Mesirow is an existing manager for the pension fund, which has made commitments to three of the manager's prior funds.
As of March 31, the pension fund’s actual allocation to private equity was 5.2%; the target is 7%.
Investment consultant Meketa Investment Group assisted.
