Alameda County commits up to $15 million to venture capital

Alameda County Employees’ Retirement Association, Oakland, Calif., committed up to $15 million to venture capital fund New Enterprise Associates 16, said Michael Fara, spokesman, in an email.

The $7 billion pension fund has committed to the three previous NEA funds, most recently committing up to $15 million to New Enterprise Associates 15 in 2015.

The pension fund’s private equity and alternatives target allocation is 18%; the actual allocation as of Dec. 31 was 10.8%.

Investment consultant Verus Advisory assisted.