Tampa (Fla.) General Employees' Retirement Fund approved its first private equity commitment to a fund managed by General Atlantic.
The $810 million pension fund's board approved the commitment at its Jan. 19 meeting, recently released meeting minutes show.
The fund name and commitment amount were not disclosed. The pension fund has created a 10% target to private equity and as of Dec. 31, the actual allocation was zero, according to the pension fund's most recent available investment report.
The target was created earlier in 2020 and was funded by reductions in the targets to domestic large-cap equities to 20% from 25% and international developed markets equities to 15% from 20%.
Investment consultant Asset Consulting Group assisted.
Dana Blydenburgh, pension plan supervisor, did not respond to requests for further information.