Portfolio Advisors receives commitment from Houston Firefighters’

The US public pension has backed a private equity-focused secondaries fund.

Institution: Houston Firefighters’ Relief and Retirement Fund
Headquarters: Houston, United States
AUM: $4.62 billion
Allocation to alternatives: 27 percent

Houston Firefighters’ Relief and Retirement Fund has approved a $20 million commitment to Portfolio Advisors Secondary Fund IV, according to minutes from the pension’s January 2021 investment board meeting.

Portfolio Advisors Secondary Fund IV is managed by Connecticut-based Portfolio Advisors. The $4.62 billion US public pension previously committed to the fund’s predecessor in 2018.

As illustrated below, Houston Firefighters’ secondaries fund commitments have focused on the private equity sector across North America, Western Europe and Asia-Pacific.

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