Oklahoma Police Pension & Retirement System, Oklahoma City, committed $20 million to Clayton, Dubilier & Rice Fund XII.
The commitment to the buyout fund managed by Clayton, Dubilier & Rice was approved at a board meeting on Nov. 16 and represents the system's first commitment to the asset manager, the system's executive director Ginger Sigler said in an email.
As of Sept. 30, the system's allocation to private equity was 17%; the target allocation is 15%.
The system had $3 billion in assets as of Sept. 30.
