The Milwaukee County Employees Retirement System (MCERS) posted two new private equity searches aimed at finding fund of funds and mezzanine fund managers, IMMP has learned.

With a goal to funnel about $20 million in each search, the Milwaukee, Wisc.-based retirement Board of Trustees stated in procurement documents that all proposoals must be submitted by May 1.

Calls placed to Marian Ninneman, the plan’s manager, seeking further information were not immediately returned as of IMMP’s press time.

Previously, at its Feb. 19 meeting, the MCERS Board heard a review of potential opportunities from investment consultant Marquette Associates. Despite prior recommendations from the consultant firm to approve add-on investments to existing managers Adams Street Partners and Siguler Guff & Company, Board Chairman Mickey Maier stated that Marquette should investigate opportunities for 2016 opportunities.

Marquette recommended a total commitment of $100 million to private equity to be spread across 2014, 2015 and 2016. The firm suggested that $30 million should be allocated to Adams Street 2014 direct fund, $40 million to the Siguler Guff 2015 Buyout III Fund and $30 million will remain for 2016.

“It may be beneficial at this time to investigate other manager opportunities for the remaining $40 million Marquette has allocated for 2016,” Maier is referenced as saying at February meeting.

According to the gathering’s summary, Marquette’s recommendation to invest $30 million with the Adams Street Co-Investment Fund III was the only item approved by the board.

In total, the system had about 2.5 percent, or $43.7 million, committed to private equity at the close of June 2013.

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