District of Columbia Retirement Board committed up to €60 million ($70 million) to CapVest Equity Partners V.
The board approved the commitment to the buyout fund managed by CapVest Partners at its Sept. 23 meeting, recently released meeting minutes show.
The board previously committed up to €40 million to CapVest Equity Partners IV in 2018.
As of June 30, the board's actual allocation to private equity was 6.9%; the target is 9%.
The board oversees the investment management of the District of Columbia Police Officers and Fire Fighters' Retirement Fund, and the District of Columbia Teachers' Retirement Fund, which have a combined $10.9 billion in assets.
Gianpiero "J.P." Balestrieri, the board's executive director, could not be immediately reached for further information.