Tampa (Fla.) General Employees' Retirement Fund approved commitments to two venture capital funds managed by TrueBridge Capital Partners totaling $20 million.
The $755 million pension fund's board approved commitments of $10 million each to venture capital fund of funds TrueBridge Capital Partners Fund VIII and secondary venture capital fund of funds TrueBridge Secondaries I at its May 16 meeting, said Dana Blydenburgh, pension plan supervisor, in an email.
It is the pension fund's first commitment to TrueBridge.
As of March 31, the pension fund's actual allocation to private equity was 1.4%; the target is 10%.
Investment consultant Asset Consulting Group assisted.