El Paso (Texas) Firemen & Policemen's Pension Fund approved two new private equity commitments totaling $26 million.
The $1.6 billion pension fund's board approved commitments of $13 million each to Ara Fund III, a buyout fund managed by Ara Partners, and Vitruvian Investment Partnership V, a buyout fund managed by Vitruvian Partners, at its Feb. 15 meeting, said Tyler Grossman, executive director, in an email.
The pension fund previously made commitments to the managers' prior funds, Ara Fund II and Vitruvian Investment Partnership IV, Mr. Grossman said.
As of Sept. 30, the pension fund's actual allocation to private equity was 19.2%; the target is 15%.
