New Hampshire Retirement System, Concord, committed up to $75 million to buyout fund Thoma Bravo Fund XIV, spokesman Marty Karlon said in an email.
The $9 billion pension fund previously committed $50 million to Thoma Bravo Fund XIII in 2018 and $46 million to Thoma Bravo Fund XII in 2016.
As of March 31, the actual allocation to alternative assets was 20.5%.
Investment consultant NEPC assisted.
Separately, NHRS' independent investment committee voted at its Sept. 18 meeting to recommend hiring Callan as its new investment consultant.
The pension fund issued an RFP in the spring due to the pending expiration of NEPC's contract on Dec. 31. NEPC is the other finalist.
Mr. Karlon said the board of trustees will vote on the recommendation at its Oct. 13 meeting.