Milwaukee County Employees' Retirement System committed a total of $80 million to Baring Private Equity Asia, Barings, Fairview Capital Partners and Greenspring Associates to manage in private equity fund-of-funds portfolios.
The $1.7 billion pension fund's board on Feb. 26 approved hiring Barings, BPEA, Fairview and Greenspring to run portfolios of about $28 million, $30 million, $12 million and $10 million, respectively, recently released meeting minutes show.
The pension fund issued two RFPs in October for global diversified fund-of-funds managers and small-buyout fund-of-funds managers. The styles of the fund-of-funds portfolios the selected managers are running was not disclosed.
As of Jan. 31, the actual allocation to private equity was 11.6%; the target is 10%.
Investment consultant Marquette Associates assisted.
Erika Bronikowski, interim director-retirement plan services, could not be immediately reached for further information.