ACERA approves $33m commitment

The US public pension has backed a North American private equity fund.

Alameda County Employees’ Retirement Association has agreed to commit $33 million to Genstar Capital Partners IX according to meeting minutes from their 13 February investment committee meeting. The middle-market buyout fund is managed by Genstar Capital.

The $8.13 billion US public pension has an 18.0 percent target allocation to private equity that currently stands at 9.80 percent.

As illustrated in the charts below, this is ACERA’s first commitment to a fund with a buyout strategy of 2019.

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