ACERA approves $110m in commitments

The US public pension has backed two North American private equity funds.

Institution: Alameda County Employees’ Retirement Association
Headquarters: Oakland, United States
AUM: $8.2 billion
Allocation to alternatives: 19.58%

Alameda County Employees’ Retirement Association has approved $110 million in commitments across two private equity vehicles, according to the pension’s September 2020 investment committee meeting minutes.

The commitments comprise $75 million to BlackRock Direct Lending Fund IX and $35 million to Clayton, Dubilier & Rice Fund XI.

As illustrated below, ACERA’s private equity commitments tend to target primarily buyout or distressed funds. The $8.2 billion US public pension has a 9 percent target allocation to private equity that currently stands at 6.91 percent.

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