San Mateo Allocates $80M to Private Credit, Private Equity

The San Mateo County Employees’ Retirement Association (SamCERA) has approved two commitments to private credit and private equity totalling $80M at their August 27 board meeting. 

$60M was allocated to GoldenTree Asset Management Master Fund Select Strategy, an opportunistic private credit fund strategy. 

$20M was allocated to Summit Partners Growth Equity Fund XII LP. SamCERA invested $10M in Summit’s Growth Equity Fund XI-A and said the latest Summit commitment is part of its venture capital portfolio within the private equity growth category.

As of June 30, SamCERA had a market value of $6.47B, allocating 3.1% to private credit and 6.8% to private equity.

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