Memphis Light, Gas & Water Division, Memphis, Tenn., committed $24 million to Schroder Adveq Asia V, recently released pension board meeting minutes show.
The $1.4 billion pension fund's board approved the commitment to the China- and India-focused private equity fund at its July 24 meeting.
As of March 31, the pension fund's actual allocation to special strategies was 9.6%; the target is 15%.
Investment consultant CBIZ Investment Advisory Services assisted.
MLGW spokeswoman Tamara Nolen could not be immediately reached to provide further information.