Institution: Merced County Employees Retirement Association
Headquarters: Merced, United States
Allocation to alternatives: 17.11%
Merced County Employees Retirement Association has agreed to commit $10 million to Cortec Group Fund VII, according to the pension’s latest meeting minutes. The seventh series private equity fund will target North American buyouts.
The $859.85 million public pension has a 15.0 percent target allocation to private equity which currently stands at 4.57 percent.
As illustrated below, Merced County has made five commitments to private equity funds with a 2019 vintage, which combined constitute $29 million.
Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.