Howard County Retirement Plans, Ellicott City, Md., committed $15 million to Dover Street XI.
The joint committee for the Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan approved the commitment to the secondary private equity fund managed by HarbourVest Partners at its Dec. 11 meeting, recently released meeting minutes show.
The pension funds previously committed $10 million to HarbourVest Partners Co-Investment Fund IV in 2018.
As of Dec. 31, the pension funds' actual allocation to private equity was 13.6%; the target is 13%. The pension funds have $1.5 billion in combined assets.
Investment consultant NEPC assisted.
