Searches and Hires

Merced County makes 2 alts commitments

Merced County (Calif.) Employees' Retirement Association made two new commitments totaling $10 million, recently released board meeting minutes show.

The $816 million pension fund's board at its June 28 meeting approved commitments of $5 million each to Accel-KKR Growth Capital Partners III, a mezzanine debt fund focused on the technology industry, and Technology Crossover Ventures X, a late-stage growth equity fund.

As of May 31, the pension fund's private equity allocation was 4.2%; the target is 9%.

Private equity and hedge fund consultant Cliffwater assisted.

Kristen Santos, retirement plan administrator, was not available to provide further information.