Alameda County Allocates $78M to Credit, Private Equity

The Alameda County Employees Retirement Association (ACERA) has committed $78 million to two alternative funds, according to meeting minutes from the April 12 investment meeting. 

Up to $38 million was committed to Crestline Opportunity Fund V, a private credit fund managed by Crestline Investors.

Up to $40 million was committed to the buyout fund, Genstar Capital Partners XI, managed by Genstar Capital.

As of December 31, 2022, the $11.3 billion pension fund allocates 9.6% to private equity and 2.6% to private credit. They have target allocations of 11% and 4% to these asset classes respectively.

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