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Houston Firefighters approves $50m commitment

The US public pension has backed a fund managed by LightBay Capital.

Houston Firefighters’ Relief and Retirement Fund has approved a $50 million commitment to LightBay Investment Partners.

The $4 billion US public pension has a 12 percent target allocation to private equity that currently stands at 10.3 percent.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.