St. Louis Public School Retirement System approved a commitment of $12 million to NB Strategic Co-Investment Partners V, a co-investment fund managed by Neuberger Berman.
The board of trustees of the $784 million pension fund approved the commitment at its Oct. 23 meeting, according to materials provided in the Dec. 18 meeting packet.
As of Oct, 31, the pension fund had a 12.4% actual allocation to private markets; its target is 12%.
The commitment is the system’s first investment with NB Strategic Co-Investment Partners, said Susan Kane, executive director of the school retirement system.
