Manchester (N.H.) Employees' Contributory Retirement System approved two new private equity commitments totaling $10 million.
The $234 million pension fund committed $5 million each to HarbourVest Fund XII, managed by HarbourVest Partners, and PA Small Company Private Equity Fund IX, a buyout fund of funds managed by PA Capital, said William Shea, executive director.
The pension fund has made multiple previous commitments to both managers. Its target allocation to private equity is 12%.
Investment consultant NEPC assisted.