Howard County Retirement Plans, Ellicott City, Md., committed up to $10 million to Vista Foundation Fund IV.
The joint committee for the two retirement plans approved the commitment to the small-cap buyout fund managed by Vista Equity Partners at its Dec. 5 meeting, recently released minutes show.
As of Oct. 31, the plans' actual allocation to private equity was 13.2%; the target is 10%.
The Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan have a combined $1.1 billion in assets.
County spokesman Mark S. Miller referred questions to the minutes.