Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund made three new commitments totaling $50 million, said Fadi BouSamra, chief investment officer, in an email.
The $4 billion pension fund's investment committee at its May 20 meeting approved commitments of $30 million to real estate debt fund Centerbridge Partners Real Estate Fund II, and a combined $20 million to private equity funds Axiom Asia Opportunity Fund and Axiom Asia Co-Investment Fund II, Mr. BouSamra said. Both funds are managed by Axiom Asia Private Capital.
As of March 31, the actual allocations to private equity and real assets were 22.7% and 9.4%, respectively.
Separately, the investment committee also approved the addition of a target-date fund lineup managed by Vanguard Group to the investment options lineup of the government's $383 million 457 plan.
It replaces a similar lineup managed by Wells Fargo Asset Management. The committee voted to replace the Wells Fargo lineup because the manager's parent company announced in February the impending sale of the business to private equity firms GTCR and Reverence Capital Partners.
As of March 31, the target-date fund lineup had $38 million in assets in that plan.
Investment consultant NEPC assisted with all transactions.