Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, committed a total of up to $20 million to two private equity funds, confirmed Carolyn Russo, executive director of the $716 million pension fund, in an email.
At its Sept. 30 meeting, the board agreed to commit up to $12 million to Ironsides Co-Investment Fund VI, a North American middle-market buyout fund managed by Constitution Capital Partners, and up to $8 million to HarbourVest Partners Co-Investment Fund VI, a private equity co-investment fund.
The board issued an RFP in May because some older vintage funds were cycling out of the portfolio and the board wanted to maintain its 10% policy target to private equity.
NEPC, the plan's investment consultant, assisted with the search.
Hamilton Lane, PA Capital and Mesirow were the other finalists.
In addition, the board recently approved having NEPC draft an RFP seeking an opportunistic real estate fund for the plan to commit $20 million, Ms. Russo said.
