Alameda sets aside $240m for private equity

The Alameda County Employees’ Retirement Association plans to commit to between four and six buyout funds in the next two years.

The Alameda County Employees’ Retirement Association plans to commit a total of $240 million across buyout, debt, special situations and venture capital strategies during the next two years, according to its investment plan, which was approved at last week’s board meeting.

Alameda will commit a total of $170 million to between four and six buyout fund managers in 2014 and 2015 and a total of $55 million to two debt-related or special situations managers. The retirement fund will commit an additional $15 million to one or two venture capital managers.

For 2013 and 2014, Alameda planned to commit $155 million to four buyout managers, Private Equity International previously reported.

Alameda has a 7.5 percent target allocation to private equity and a 3.9 percent actual allocation. Alameda has $6.64 billion of assets as of 31 December 2013.

Sam Sutton contributed to this report.