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Houston Firefighters ups PE allocation to 33%

Houston Firefighters’ Relief and Retirement Fund now ranks among the largest private equity allocators by portfolio percentage (33$%), having made more than $600 million in commitments to the asset class in FY 2023, according to a report by Buyouts Insider.

The report cites board documents and meeting minutes as revealing that $5 billion pension system now allocates more to private equity than it does to any other strategy. Its next biggest allocation is domestic and international equity at 27%.

And the systems PE allocation could have further to go yet with tree documents revealing a target range of 10 to 37%.

The largest commitments made this year are $125 million to EQT X, $100 million to Hellman & Friedman XI and $100 million to EQT Infrastructure Fund V.
 

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