Alameda County Approves 2024 Private Credit Pacing Plan, $330M Annual Commitment

The Alameda County Employees’ Retirement Association (ACERA) approved a 2024 private credit pacing plan that will see it commit $330M annually to the asset class, according to recently published materials from its October 17 board meeting.

The 2024 plan targets $330M in new private credit commitments annually, spread across four to seven individual investments, over the plan’s first few years. The allocation includes $200M to $210M for direct lending funds and $120M to $130M for opportunistic and distressed credit funds, supporting ACERA’s projected path to reach its 6.8% target allocation in private credit by 2030.

During the meeting, ACERA staff and consultant NEPC reviewed recommended amendments to the private credit policy with the investment committee. According to Dakota data, ACERA currently oversees approximately $11.2B in assets.

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