West Palm Beach (Fla.) Police Pension Fund committed $12 million to Aberdeen Standard U.S. Private Equity IX, said John McCann, senior consultant at AndCo Consulting, the pension fund's investment consultant.
It is the $396 million pension fund's second commitment to a private equity fund of funds managed by Aberdeen Standard Investments.
The pension fund previously committed $12 million to Aberdeen Standard U.S. Private Equity VII in 2018.
As of Sept. 30, the pension fund's actual allocation to private equity was 4%.