The Southfield Employee Retirement System has shared a $2 million commitment made at the July 19 meeting, according to meeting minutes.
$2 million was committed to the Sturbridge Capital SDPE III Fund, a private equity fund of funds secondary strategy managed by Sturbridge Capital. Sturbridge is a secondary private equity firm based out of Birmingham, Michigan.
As of June 30, 2022, the $112 million Retirement System has an actual and target allocation to alternative investments of 6.4% and 8.5% respectively.
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