The Oklahoma Firefighters Pensions & Retirement System, Oklahoma City, committed $20 million to private equity, according to Troy Brown, executive director at AndCo Consulting, the system's investment consultant.
The commitment to Argonaut Private Equity Fund V was approved at a board meeting on Dec. 17 and represents the system's second private equity investment with Argonaut, Mr. Brown said in an email.
Oklahoma Firefighters committed $15 million to Argonaut Private Equity Fund IV in September 2018.
As of Nov. 30, the system's actual allocation to private equity was 0.4%. Its target allocation ranges from 0% to 10%.
The system had $3.7 billion in assets as of Nov. 30.