The firm raised $9.7 billion in aggregate capital commitments across the two funds.
The plan’s private markets committee will recommend the commitment at a board meeting later this month.
The fund focuses exclusively on founder-led and family-owned businesses with EBITDA of more than $15 million.
The plan decided to move one of its active international equity managers to passive management following performance concerns.
The city is seeking advisory and consulting services for roughly $183 million in total assets.
The firm has added a three-member managed investment solutions team.
The plan made a hire in its international small-cap equity manager search in July.
The decision came as the firm’s performance has been a drag on the plan’s return.
The county is searching for third-party administrator and investment management services for its trusts.
The commitment, initially approved by the investment committee late last month, represents a new relationship for the plan.