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A Mid-Atlantic county is searching for a bundled provider for its 457 deferred compensation plan.
Plan disclosed $95 million in new private equity and real estate commitments and is searching for a new private markets head.
Follow-on commitment will see fund focus on global diversified buyout partnerships.
The plan will vote to approve searches for intermediate fixed-income funds and global allocation managers.
The $1.9 billion transaction is expected to close early next year.
The search would be conducted in early 2022.
This fund provides Star Mountain with additional capital to make value-added debt and equity investments in established U.S. small and medium-size businesses that generally have between $15 million and $250 million in annual revenues.
Plan’s investment committee approved a pair of real assets commitments subject to full board approval next week.
Organization intends to invest $200 million in diverse-owned and led private equity firms raising first or second funds.
The plan will interview three finalists at its October board meeting.