San Antonio Fire & Police Pension Fund committed $25 million to ZMC IV.
The $3.4 billion pension fund's board approved the commitment to the buyout fund managed by ZMC Advisors at its Dec. 16 meeting, recently released meeting minutes show.
The pension fund previously committed $20 million to ZMC III in 2019.
As of Dec. 31 2021, the pension fund's actual allocation to private equity was 7.5%, the most recent data available.
Cary Hally, chief investment officer, could not be immediately reached for further information.