Knoxville (Tenn.) City Employees' Pension System made two new private equity commitments totaling $10 million.
The $704 million pension fund's board approved commitments of $5 million each to Adams Street Co-Investment Fund V, managed by Adams Street Partners, and Top Tier Venture Velocity Fund 4, a venture capital fund managed by Top Tier Capital Partners, at its May 13 meeting, said Kristi Paczkowski, executive director.
As of May 31, the pension fund's actual allocation to private equity was 7.3%.
Investment consultant Marquette Associates assisted.
