Westmoreland County Employees' Retirement Fund, Greensburg, Pa., committed $12 million to Hamilton Lane Strategic Opportunities Fund VIII.
The $593 million pension fund's board approved the commitment to the private debt fund at its May 23 meeting, said Jeffrey Balzer, county controller. It is the pension fund's first commitment to a Hamilton Lane fund, he said.
As of June 30, the pension fund's actual allocation to alternatives was 12.8%; the target is 10%.
Investment consultant Gallagher Fiduciary Advisors assisted.