Nebraska Investment Council, Lincoln, approved commitments to two alternative investment funds totaling $88 million, Ellen Hung, state investment officer, confirmed in an email.
The council, which oversees $40.8 billion, at its March 7 meeting approved a $56 million commitment to McCarthy Capital Fund VIII, a lower middle-market buyout fund, on behalf of its five defined benefit plans, which have a total of $16.7 billion in assets; its cash balance benefit plans totaling $2.9 billion; and the $1.6 billion Omaha School Employees Retirement System.
The council previously approved commitments to other McCarthy Capital funds, including $50 million to Fund VII in 2020; $40 million to Fund VI in 2016; $20 million to Fund V in 2012; and $10 million to Fund IV in 2009.
Also at the meeting, the council approved a $32 million commitment to Ironsides Partnership Fund VII, a North American middle-market fund of funds managed by Constitution Capital Partners. The commitment was made on behalf of the $1.2 billion general endowment and the $539 million healthcare endowment, according to board documents. In 2020, the council committed $20 million to Ironsides Co-Investment Fund IV and in 2016 it committed $20 million to Ironsides Partnership Fund IV.
Nebraska Investment Council allocates $88 million to 2 alts funds
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