Howard County Retirement Plans, Ellicott City, Md., committed a total of $25 million to two private equity funds.
The joint committee for the Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan approved commitments of $15 million to Hildred Equity Partners III, a middle-market buyout fund managed by Hildred Capital Management, and $10 million to Vista Foundation Fund V, a middle-market buyout fund managed by Vista Equity Partners, at its July 17 meeting, recently released meeting minutes showed.
The retirement plans previously committed $10 million to Vista Foundation Fund IV in 2020. There is no record of any prior commitments to Hildred Capital Management.
As of June 30, the plans’ actual allocation to private equity was 13%, equal to its target. The pension funds have $1.6 billion in combined assets.
Investment consultant NEPC assisted.
