While system is on track to full funding by 2046, investment volatility could throw a wrench into the process.
A total of 25 managers received 26 commitments in the last half of the 2017-2018 fiscal year.
The more cautious approach to direct private equity investing at the second-largest US pension plan contrasts with a more aggressive approach by CalPERS, the biggest US plan.
The pension plan is getting ready for investments out of the traditional limited partner-general partner fund structure, including increases in co-investments.