Institution: San Mateo County Employees’ Retirement Association
Headquarters: Redwood Shores, United States
AUM: $4.85 billion
Allocation to alternatives: 17.2%
San Mateo County Employees’ Retirement Association invested up to $65 million in two private equity funds from Clayton, Dubilier & Rice and White Oak Global Advisors, according to the institution’s 29 September investment meeting.
The pension committed $30 million to Clayton, Dubilier & Rice Fund XI, which invests in multiple sectors in North America. The fund is targeting $13 billion.
San Mateo County Employees’ Retirement Association has also re-upped with $35 million to White Oak Yield Spectrum Fund V.
Private equity makes up 6.6 percent of the pension’s $4.95 billion investment portfolio.
As illustrated in the charts below, the fund typically invests in funds that deploy mezzanine, debt and buyout strategies.
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