Howard County Retirement Plans, Ellicott City, Md., committed $15 million to Mesirow Financial Private Equity Fund VIII-B.
The joint committee for the Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan approved the commitment to the co-investment fund focused on middle-market buyouts at its Oct. 28 meeting, recently released meeting minutes show.
As of Sept. 30, the actual allocation to private equity was 14%; the target is 13%. The two plans have a combined $1.4 billion in assets.
Investment consultant NEPC assisted.
John K. Peterson, the county's assistant chief administrative officer and acting human resources administrator, could not be immediately reached for further information.