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FUNDRAISING NEWS | December 16, 2024

MLGW Invests $30M in SSM Partners Growth Fund

Tags: Pension Funds, Private Equity, New Investment

The Memphis Light, Gas & Water Corporation (MLGW) on November 20 made an allocation totalling $30M to SSM Growth Equity Fund IV. 

In the pension’s recently published meeting minutes, the board adopted the commitment recommendation made by consultant CBIZ to Memphis, TN, private equity firm SSM Partners’ growth fund, which is expected to raise $50M on first close. The entire amount is a $20M allocation from MLGW and $10M from the Other Post-Employment Benefits (OPEB) Trust. 

Per Dakota data, the Tennessee-based pension’s aggregate plan assets are valued at $1.75B. 

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Written By: Dakota

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