Pension fund also adds $20 million each to Clarion Lion, Heitman real estate commitments
Alameda County Employees' Retirement Association, Oakland, Calif., committed a total of up to $10 million to venture capital fund Khosla Ventures VI and early stage seed fund Khosla Ventures Seed D, spokesman Michael Fara said.
The $7.8 billion pension fund committed $10 million to Khosla Ventures V in 2014.
The pension fund also made a follow-on commitment of $20 million to Clarion Lion Industrial Trust, a core-plus real estate fund managed by Clarion Partners. ACERA originally committed $25 million to the fund in 2016.
Also, ACERA made a follow-on commitment of $20 million to Heitman Value Partners IV, a value-added real estate fund. The pension fund originally committed $10 million to the fund in June 2017.
All commitments are pending completion of legal due diligence, background checks and successful contract negotiations, Mr. Fara said.
As of Dec. 31, the pension fund's actual allocations to private equity and real estate were 5.5% and 6.4%, respectively. Their respective targets are 9% and 8%.