Howard County Retirement Plans, Ellicott City, Md., committed $10 million to MPE Partners IV.
The joint committee for the Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan approved the commitment to the lower-middle-market buyout fund at its May 17 meeting, recently released meeting minutes show.
The joint committee previously committed $10 million to MPE Partners III in 2021.
As of May 31, the plans' actual allocation to private equity was 14.1%; the target is 13%. The two plans have a combined $1.4 billion in assets.
Investment consultant NEPC assisted.
Anju Bennett, the county's human resources administrator and member of the board, could not be immediately reached for further information.