Stanislaus County Employees' Retirement Association, Modesto, Calif., committed $15 million to Insight Partners XI.
The $2 billion pension fund's commitment to the growth equity fund managed by Insight Partners closed March 20, according to a memo from Stan Conwell, retirement investment officer, in the board packet for the upcoming meeting Tuesday.
Insight Partners XI focuses on investing $10 million to $350 million in growth-oriented software companies.
As of March 31, the actual allocation to private equity was 5.8%; the target is 6%.
Investment consultant Verus Advisory assisted.
Mr. Conwell could not be immediately reached for further information.
