Merced County Employees’ Commit $16M to Private Equity

The Merced County Employees’ Retirement Association has committed $16 million to three private equity funds. 

$8 million was allocated to Summit Partners Europe Equity IV, a growth equity fund managed by Summit Partners. 

The other $8 million was allocated between two venture capital funds managed by Khosla Ventures. $6 million was allocated to Khosla Ventures VIII and $2 million was allocated to Khosla Venture Seed F. 

As of December 31, 2022, the pension fund  allocates 13.8% to Private Equity while they target 15% to the asset class.

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