Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund hired Accel-KKR to run a customized separate account that will commit up to $125 million to the alternative manager's growth equity and direct lending funds.
The $4.2 billion pension fund's investment committee approved the hiring at its Aug. 17 meeting, said Fadi BouSamra, chief investment officer, in an email.
The pension fund has made several commitments with Accel-KKR in the past, most recently committing $10 million to buyout fund Accel-KKR Capital Partners VI in 2019.
As of June 30, the actual allocations to private equity and fixed-income alternatives were 26.6% and 22.2%, respectively.
Investment consultant NEPC assisted.
Mr. BouSamra could not be immediately reached for further information.