El Paso Fire & Police Pension Commit $30M to Private Equity

The El Paso Firemen & Policemen’s Pension Fund recently committed $30 million in total to two private equity funds, recently released minutes from their May and June board meeting disclosed. 

At the May 18 meeting, $15 million was allocated to middle market buyout fund, Bernhard Capital Partners III. 

Also at the May meeting, alternative markets consultant for the Fund, Meketa, reviewed a 2022 private equity pacing study. Meketa recommended $75 million in total commitments to private equity in 2022 consisting of five $15 million investments. 

At the June 22 meeting, $15 million was committed to Paine Schwartz Partners Food Chain Fund VI, which will invest in businesses providing products and services to the food and agriculture sector. 

In addition, the $1.8 billion Pension Fund approved the termination of real assets manager, Harvest Fund Advisors MLP, at the June meeting. 

As of December 31, 2021, the Pension Fund’s actual and target allocation to private equity is 14.2% and 15% respectively. 

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.