Nebraska Investment Council, Lincoln, approved a $57 million commitment to New Mountain Partners VII.
The council, which oversees $36.1 billion, made the commitment to the middle-market buyout fund managed by New Mountain Capital at its meeting Thursday, Michael Walden-Newman, state investment officer, said in an email.
The commitment was on behalf of the council's five defined benefit plans, which have a total of $14.9 billion in assets, its cash balance benefit plans totaling $2.6 billion, and $1.4 billion Omaha School Employees Retirement System.
