Nebraska Investment Council, Lincoln, committed $30 million to two alternative funds at its board meeting Thursday, Michael Walden-Newman, state investment officer, said in an email.
The council, which oversees $34.8 billion, committed $20 million to Ironsides Co-Investment Fund IV, a North American middle-market buyout fund managed by Constitution Capital Partners. The commitments were made on behalf of the $1.1 billion general endowment and the $505 million health-care endowment, according to board documents. In 2016, the council committed $20 million to Ironsides Partnership Fund IV.
Also, the council committed $10 million to Kayne Anderson Real Estate Partners VI, an opportunistic real estate fund managed by Kayne Anderson Capital Advisors, on behalf of the $1.5 billion Omaha School Employees' Retirement System Plan, board document show.
In December, the board committed $40 million to the same fund on behalf of the five defined benefit plans under council supervision, which have a total of $15.5 billion in assets, and the state's cash balance benefit plans, totaling $2.8 billion.
The council also approved Ascensus as the new service provider for the $20.6 million Enable Savings Plan, with program manager responsibilities split between Ascensus and the treasurer's office. The Enable plan, established in 2016, allows individuals with certain disabilities to create tax-advantaged savings accounts to pay for qualified disability-related expenses.