City of Hartford Plans to Initiate PE Manager Search in December

A private equity manager search is scheduled to be issued by the City of Hartford Municipal Employees’ Retirement Fund (MERF) in December. 

The upcoming manager search is reflected in the pension’s updated 2024 work plan from recently published materials for its October 25 committee meeting. The work plan followed consultant NEPC’s quarterly performance report in private equity which found that as of March 30, total commitments by the pension in the asset class tallied $299.94M, with buyouts accounting for the bulk of exposure at 59.2%. 

As of September 30, the Connecticut pension said its composite private equity allocation is valued at $146.5M and represents 12.8% of the portfolio against a policy target of 11%. 

Source: https://www.hartfordcitytreasurer.org/1253-pen-investments-october-2024-agenda-and-september-2024-minutes/file