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ACERA commits $34m

The $7.8bn US public pension targets a London-based mid-market buyout fund.

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The Alameda County Employees’ Retirement Association (ACERA) approved a $34 million commitment to CapVest Equity Partners IV at the pension’s board meeting on June 21, Communications Manager Michael Fara said in an email. The pending investment, which is subject to due diligence completion and successful contract negotiations, will be made out of the buyout portion of ACERA’s private equity portfolio.

The $7.8 billion US public pension has a current allocation to private equity strategies of about 10 percent. Platinum subscribers may click here for ACERA’s full profile, including key contacts, allocation strategy and fund investments.