Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund approved new alternative fund commitments totaling $55 million.
The $4.2 billion pension fund's investment committee approved commitments of $30 million to PIMCO Corporate Opportunities Fund IV, an opportunistic credit fund managed by Pacific Investment Management Co.; $15 million to buyout fund Accel-KKR Capital Partners VII; and $10 million to venture capital fund Columbia Capital Equity Partners VIII, said Fadi BouSamra, chief investment officer, in an email.
The pension fund previously committed $30 million to PIMCO Corporate Opportunities Fund III in 2020, $10 million to Accel-KKR Capital Partners VI in 2019 and $10 million to Columbia Capital Equity Partners VII in 2018.
As of June 30, the actual allocations to private equity and fixed-income alternatives were 26.6% and 22.2%, respectively; their respective targets are 12% and 18%.
