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MLGW Retirement and Pension System approves $24m commitment

The US public pension has backed an Asia-Pacific private equity fund.

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Institution: Memphis Light, Gas and Water Retirement and Pension System
Headquarters: Memphis, United States
AUM: $1.37bn
Allocation to alternatives: 26.64%
Bitesize: $10-50m

Memphis Light, Gas and Water (MLGW) Retirement and Pension System has approved a commitment of $24 million to Schroder Adveq Asia V, according to the pension’s latest meeting minutes.

The $1.37 billion US public pension has a 4.73 percent allocation to private equity.

As illustrated below, the pension has made four commitments to private equity funds with a 2018 or 2019 vintage, which combined constitute $49 million.

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