Howard County Retirement Plans, Ellicott City, Md., committed $10 million to Partners Group Direct Equity V.
The joint committee for the Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan approved the commitment to the buyout fund at its Oct. 19 meeting, recently released meeting minutes show.
As of May 31, the plans' actual allocation to private equity was 16.9%; the target is 13%. The two plans have a combined $1.3 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.