Louisiana Municipal Police Employees Retirement System, Baton Rouge, hired HarbourVest Partners to run a $215 million customized private equity fund of one portfolio.
The $2.6 billion pension fund voted to hire HarbourVest at its meeting Wednesday, said Benjamin Huxen II, executive director and general counsel, in an email.
MPERS conducted a shortlist search, and the other finalists were Adams Street Partners and Portfolio Advisors.
Mr. Huxen said the fund of one will likely invest mostly in buyout funds, as well as secondary private equity funds, private credit and private equity co-investments.
As of March 31, the pension fund's actual allocation to private equity was 4.4%; the target is 5%.
Investment consultant NEPC assisted.
