BRS Commits $25M to PE, Invites 3 for Infra Search, Picks SBH in Int’l Small Cap

Boston Retirement System (BRS) approved a total of $25M in commitments to two private equity growth funds, and has selected a new international small cap equity manager while also inviting three candidates in its private infrastructure search to present at the board meeting this January. 

Recently published minutes from its November 25, 2024, administrative session disclosed that the city pension unanimously voted in favor of a $10M allocation to GTCR Strategic Growth Fund II and $15M to THL Equity Fund X. The GTCR fund represents a follow-on investment by the Boston pension, as it has previously committed to both the strategic growth fund and GTCR’s flagship fund. 

Concurrently, BRS voted to retain Segall Bryant & Hamill as its international small cap equity manager in the conclusion of the pension’s search process for the mandate. Allspring and Global Alpha were also considered. For its private infrastructure manager search, the pension invited Blackstone, Intermediate Capital Group, and Macquarie to present at its January board meeting, selected out of 49 respondents. The infrastructure search was initiated for a potential $30M allocation to fulfill the pension’s annual commitment to private equity. 

NEPC assisted Boston for both manager searches. As of the latest Dakota data, the Massachusetts-based pension oversees approximately $6.35B in total plan assets. 

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Written By: Dakota

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